AviChina Industry & Technology Company Limited announced that due to change in work arrangement, Mr. Yan Lingxi applied to the Board on 21 February 2023 for resignation from his position as the general manager of the Company. Mr. Yan has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the Board and the shareholders of the Company in respect of his resignation as the general manager of the Company. On the same day, the Board announced that, at the Board meeting held on 21 February 2023, the Board considered and approved the resolution in relation to the appointment of Mr. Sun Jizhong as the general manager of the Company, with his term of office commencing from the date of approval of such resolution at the Board meeting to the date on which the term of office of the seventh session of the Board expires.

The biographical details of Mr. Sun are set out as follows: Mr. Sun Jizhong, 55, a master degree holder. Mr. Sun graduated from Beihang University with a master's degree in management engineering. Mr. Sun commenced his career in the aviation industry in 1990, and served as deputy section chief of the finance and accounting department, deputy director of the finance and accounting department, director of the finance and accounting department, deputy chief accountant and director of finance department, as well as deputy general manager and the chief accountant of Shenyang Aircraft Corporation.

From December 2019 to February 2023, Mr. Sun has been a director and the general manager of AVIC Finance Co. Ltd.