The board of directors of Balk 1798 Group Limited announced that with effect from 6 April 2023, Mr. Wang Yi ("Mr. Wang") has resigned as an executive director of the Company due to his desire to devote more attention and dedication to his other business and personal engagement. The Board further announces that with effect from 6 April 2023, Dr. Zhang Yu ("Dr. Zhang") has been appointed as an executive director of the Company. Dr. Zhang, aged 37, graduated from University of York, United Kingdom.

He started working as a research fellow at York Management School of University of York, United Kingdom in 2010. Since 2011, Dr. Zhang has been a global advisor of China Railway Group Limited in the international market. Also, Dr. Zhang is currently an advisor and business development director of Compact GTL Limited, founder and co-director of Innovation Centre for Commercialization of the University of Surrey, and representative of United Kingdom at Tianjin Administration of Foreign Experts Affairs.

Dr. Zhang has extensive experience and industry background in trade finance and commodities trading. Dr. Zhang built up his business connections with a number of well-known worldwide corporations across multiple industries including but not limited to banking, trading, mining, smelting and financial services. In particular, Dr. Zhang is very experienced in both physical commodity trading and futures markets.

Dr. Zhang also gave public speeches in relation to global finance and development since 2016, he has been invited to speak at Chatham House of the United Kingdom in 2016 and 2018.