The board of directors of Beijing Luzhu Biotechnology Co., Ltd. announced that Mr. ZHANG Hui has tendered his resignation as the chief financial officer of the Company (the "Chief Financial Officer") due to his need to devote more time to his other personal engagements, with effect from June 14, 2023. Mr. ZHANG will remain as a consultant to the Company. ZHANG for his loyalty and commitment to the Company.

The Board announced that it has resolved to appoint Mr. WANG Yongxin ("Mr. WANG") as the Chief Financial Officer with effect from June 14, 2023. The biographical details of Mr. WANG are set out below: Mr. WANG, aged 52, has 20 years of experience in capital market and investment and financing field. Prior to joining the Group, Mr. WANG worked as the senior investor relations manager of Shanghai Forte Land Co., Ltd.a subsidiary of Fosun International Limited (listed on the Stock Exchange; stock code: 656), from May 2003 to July 2004.

From March 2006 to January 2007, he served as an associate of the Citigroup Property Investors (CPI). From February 2008 to July 2012, he worked in Sunshine 100 Real Estate Group Co., Ltd. a subsidiary of Sunshine 100 China Holdings Ltd., where he had served as its joint company secretary. Mr. WANG then worked at Gemdale Corporation(listed on the Shanghai Stock Exchange; stock code: 600383) between August 2012 and January 2014, where he had served as the executive director () of its capital management department.

From July 2016 to February 2021, he worked in China Overseas Property Group Co., Ltd. a subsidiary of China Overseas Land & Investment Ltd. where he had served as the senior business manager of its overseas business department. Mr. WANG obtained a bachelor degree of engineering in building structure from Tsinghua University in 1993. He further obtained a master degree of economics in business administration from University of International Business and Economics in 1996 and a master degree of science in real estate and urban land economics from the University of Wisconsin-Madison in 2001.