The Board of Directors of Broncus Holding Corporation announced that Mr. Guowei Zhan has been re-designated from an executive Director to a non-executive Director with effect from September 1, 2023, as he would like to devote more time to his other commercial and personal affairs. Mr. Guowei Zhan, aged 47, was appointed as an executive Director on May 6, 2021. He joined Group as a General Manager and was also appointed as the Chief Executive Officer of the Company in December 2017.

He is mainly involved in overall strategic planning, business direction and operational management. Mr. Zhan has over 23 years of experience in the industry of medical devices. Prior to joining the Group, Mr. Zhan was the vice president of DiNovA Medtech Technology Co.

Ltd., a specialized medical device business incubator in China, from August 2015 to June 2017. Mr. Zhan graduated with a bachelor's degree in international finance from Sun Yat-sen University, China in June 1999. In respect of the Re-designation, the Company will enter into a new service contract with Mr. Zhan in relation to his appointment as a non-executive Director for a term of one year commencing from September 1, 2023, subject to retirement by rotation and re-election at general meetings.

Mr. Zhan will not receive director's fee from the Company during his tenure as a non-executive Director.