The board of directors of China Aoyuan Group Limited announced that Mr. Guo Zi Ning (Mr. Guo) has tendered his resignation and ceased to act as the executive Director, vice chairman and authorized representative of the company with effect from 27 April 2023 due to having reached his retirement age. The board announced that Mr. Tan Yi (Mr. Tan) has been appointed as an executive Director with effect from 27 April 2023. Mr. Tan, aged 43, is currently a vice president of the Group and a director of certain subsidiaries of the company.

Mr. Tan has 16 years of work experience with the Group and has extensive knowledge and skills in overseeing the overall daily operation and compliance, investment and legal management. Mr. Tan joined the Group in October 2006 and has assumed various positions successively since then, including, the legal specialist, legal officer and legal general manager of the company, president assistant and vice president of a major subsidiary of the Group, president assistant of the Group and vice president of investment and legal department of the Group. Since July 2020, Mr. Tan also serves as the chairman of supervisory board of Aoyuan Beauty Valley Technology Co.

Ltd. and medical beauty business and an indirect non-wholly owned subsidiary of the Company whose shares are listed on the Shenzhen Stock Exchange. Prior to joining the Group, Mr. Tan had served as a legal specialist from July 2005 to September 2006 in Guangzhou Dongshun Real Estate Development Co. Mr. Tan graduated from Hunan Normal University in the PRC in June 2001 with a Bachelor's Degree in Mathematics Education and obtained a Master's Degree in Law from Sun Yat-Sen University in the PRC in June 2005.

Following Mr. Guo's resignation, Mr. Guo has also ceased to be the Authorized Representative, and Ms. Wong Mei Shan (Ms. Wong), the existing joint company secretary of the company, has been appointed as the Authorized Representative in replace of Mr. Guo with effect from 27 April 2023.