The board of directors of Chiho Environmental Group Limited to announced that Mr. Wang Li has been appointed as an independent executive director of the Company with effect from 9 June 2022. Mr. Wang, aged 34, holds a master's degree from Rutgers, the State University of New Jersey, majoring in quantitative finance. Mr. Wang is currently the managing director of the Alternative Asset Management Department of Haitong International Securities Group Limited.

He is also currently an executive director of Millennium Pacific Group Holdings Limited. Mr. Wang has extensive experience in asset management, corporate finance and merger and acquisition, corporate actions of listed company and derivatives trading, and has participated in a number of deals relating to such areas. Mr. Wang shall hold office until the next general meeting of the Company, where he shall be eligible for re-election, and thereafter subject to retirement by rotation at least once every three years and will be eligible for re-election at each annual general meeting of the Company in accordance with the Company's Articles of Association.