Bright Scholar Education Holdings Limited announced changes in its management. The Company received a letter of resignation dated January 3, 2024 from Mr. Hongru Zhou, notifying the Company of his resignation as the chief executive officer of the Company for personal reasons not resulting from any disagreement with the Company, its management, board of directors or any committee of the Board, on any matter relating to the Company's operations, policies or practice. The Board has accepted Mr. Zhou's resignation on January 18, 2024, effective from the same date.

Mr. Zhou will continue to serve as the chairperson of the Board of the Company. The Board has appointed Mr. Ruolei Niu as the chief executive officer of the Company, who previously served as the Company's chief financial officer, effective from January 18, 2024. Mr. Ruolei Niu served as the chief financial officer of the Company from February 2023 to January 2024.

Mr. Niu served as the vice general manager of Country Garden Venture Capital from February 2022 to February 2023. Prior to that, Mr. Niu had also served as the founder, general manager, co-chief investment officer and responsible officer at CG Partners Asset Management Co., Limited from 2015 to 2022, and the executive director, fund manager and responsible officer at China Merchants Fund Management Co. Ltd. from 2010 to 2015.

Mr. Niu was an investment analyst and an investment and taxation accountant at ING Investment Management from 2007 to 2010 and 2004 to 2007, respectively. Mr. Niu holds a Bachelor of Commerce degree in accounting from the University of Melbourne and a Master of Commerce degree in finance from the University of Sydney. Mr. Niu is a Certified Financial Analyst and a member of Certified Practising Accountant Australia.