The board of directors of BetterLife Holding Limited announced that, with effect from 9 March 2024, Mr. Chou Patrick Hsiao-Po has resigned from his positions as chief executive officer of the Company to devote more time to his personal endeavors. Following Mr. Chou Patrick Hsiao-Po's resignation, Mr. Xu Tao, an executive Director, is appointed as the CEO with effect from 9 March 2024. Mr. Xu Tao, aged 46, joined the Group in April 2008 and was appointed as an executive Director of in January 2022.

He also has been serving as the director of information operation i n the Group since August 2023. Mr. Xu has approximately 20 years of experience in the automobile industry. Prior to joining the Group, Mr. Xu served as the sales director of Beijing Shouchuang Senmei Auto Trade Ltd. an authorized dealer for Buick automobiles, from June 2004 to March 2008.

Mr. Xu also served as a sales manager of Beijing Yazhijie Century Auto Sales Ltd., an authorized dealer for Ford automobiles, from January 2003 to January 2004 and a sales consultant of Beijing Yazhijie Auto Trade Ltd., an authorized dealer for Audi automobiles, from September 2001 to December 2001. Mr. Xu joined Beijing Haidian Mercedes-Benz operated by Beijing BetterLife Star Auto Sales Co. Ltd. as a sales director in April 2008, and served as the general manager from May 2013 to April 2022.

Under the leadership of Mr. Xu, Beijing BetterLife Star has received the Top 5 Best Warranty Business Performance Award 2019 in Northern China by Beijing Mercedes-Benz Sales Service Co. Ltd. and the best retailer dealer for Start Elite second-hand vehicles in Northern China in the first half of 2010 by Mercedes-Benz. He served as the general manager of Beijing Yingzhibao Automobile Trading Co.

Ltd. from May 2022 to July 2023. Mr. Xu graduated from Beijing University of Technology with a bachelor's degree in Automobile and Internal Combustion Engine in July 2000.