The Board of Beijing Capital Grand Limited announced that Mr. Feng Yujian has resigned as the executive Director, chairman of the Strategic Investment Committee and Authorised Representative with effect from 25 October 2022 due to his work allocation. Mr. Feng has confirmed that he has no disagreement with the Board and the Company, and there are no matters with respect to his resignation that need to be brought to the attention of the shareholders of the Company. The Board announced that Mr. Xu Jian has been appointed as the executive Director, chief executive officer, chairman of the Strategic Investment Committee and Authorised Representative with effect from 25 October 2022. The biographical details of Mr. Xu is set out below as required under 13.51(2) of the Listing Rules. Mr. Xu Jian, aged 40. He joined Beijing Capital Group Co. Ltd. in July 2013, and he served as the senior manager of the capital operation department of Capital Group from July 2013 to June 2015. He served as the general manager of ChengDu QianFeng Electronics Co. Ltd. (currently known as BAIC Blue Park New Energy Technology Co. Ltd.), which shares are listed on the Shanghai Stock Exchange (Stock Code: 600733.SH), from July 2015 to January 2018. Mr. Xu served as the assistant to general manager of the financial operation department of Capital Group from February 2018 to November 2018. He served as the deputy general manager of the capital management
department of Capital Group form December 2018 to July 2021. Mr. Xu was appointed as chief executive officer and executive director of Beijing Media Corporation Limited which shares are listed on the Stock Exchange (stock code: 1000.HK), from August 2021 to September 2022. He served as deputy general manager of Beijing Capital City Development Group Co. Ltd. and Beijing Capital Land Co. Ltd. since September 2022. Prior to joining Capital Group, Mr. Xu served as an engineer in the computer information department of Amway (China) Commodity Co. Ltd. and a senior manager in the underwriting and sponsoring branch in Beijing of Xiangcai Securities Co. Ltd. from July 2005 to July 2013. Mr. Xu holds a concurrent post as a non-independent director of First Capital Securities Co. Ltd., which shares are listed on the Shenzhen Stock Exchange since June 2021, a director of Beijing Youth Travel Service Co. Ltd. since November 2021 and a director of Beijing Economic Development Investment Co. Ltd. from March 2022. Mr. Xu was appointed as a non-executive Director of Beijing Media from September 2022. Mr. Xu obtained a bachelor's degree in computer science and technology from Zhejiang University in July 2005 and a master's degree in business administration from Peking University in July 2011. A service contract will be entered into between Mr. Xu and the Company for a term of three years commencing from 25 October 2022 and thereafter be continuous unless and until terminated by not less than one month's prior notice in writing served by either party on the other. The term of Mr. Xu's appointment is subject to the retirement by rotation and re-election at any subsequent general meeting of the Company in accordance with the Articles. Mr. Xu will not receive any director's fee, and the salary of Mr. Xu as a chief executive officer will be determined by the Board with reference to his responsibilities, experiences, the Company's remuneration policy and the prevailing market condition.