Beijing Enterprises Holdings Limited announced that due to the change in work arrangements, Mr. DAI Xiaofeng has tendered his resignation as Executive Director and Chairman of the Board of the Company and ceased to be Member of the Remuneration Committee, Chairman of the Nomination Committee, Chairman of the Investment Committee of the Company and an authorised representative of the Company with effect from 26 October 2023. The Board further announces that Mr. YANG Zhichang has been appointed as Executive Director and Chairman of the Board, Member of the Remuneration Committee, Chairman of the Nomination Committee and Chairman of the Investment Committee of the Company and the Authorised Representative with effect from 26 October 2023. Mr. YANG Zhichang, aged 53, also serves as Vice General Manager of Beijing Enterprises Group Company Limited.

Mr. Yang graduated from the department of management engineering of Beijing University of Posts and Telecommunications with posts and telecommunications management engineering qualification in 1991 and obtains a doctorate degree in management from the department of industrial economics from Chinese Social Science Post-graduate Faculty with enterprise management qualification in 2009. He worked at Beijing University of Posts and Telecommunications from 1991 to 2001. He was a deputy general manager of the sales department of Beijing Oriental Plaza of China Southern Securities Co.

from 2001 to 2002. He was a director and vice president of Beijing Zhengtong Network Communication Co. Ltd. from 2002 to 2006.

He was a manager of the investment development department of Beijing Holdings Limited from 2006 to 2010. From 2010 to 2019, he was a manager of the strategic development department, a manager and an assistant to general manager of the reform and development department of BE Group. From 2019 to 2022, he was an assistant to general manager of BE Group and a director and a general manager of BHL.

He has been a Vice General Manager of BE Group since 2022.