The board of directors of China Conch Venture Holdings Limited announced the following changes in the composition of the Board. Mr. GUO Jingbin (``Mr. Guo'') has been re-designated from a non-executive Director to an executive Director with effect from 2 April 2024. Pursuant to the Company's articles of association, Mr. Guo will hold office as an executive Director until the first annual general meeting of the Company after his re- designation and shall then be eligible for re-election at such annual general meeting.

Mr. Guo will remain as the chairman of the Board. Mr. Guo, aged 66, was appointed as a Director with effect from 24 June 2013. He was an executive Director from July 2014 to September 2021, and was re-designated as a non- executive Director from September 2021.

He is currently the chairman of the Board and has been appointed as the chairman of the strategy, sustainability and risk management committee of the Board with effect from 29 March 2021. He is primarily responsible for overall strategic development of the Group. Mr. Guo graduated from Shanghai Construction Materials College and joined the predecessor of Anhui Conch Holdings Co.

Ltd. in 1980. In July 1998, Mr. Guo received a Master of Business Administration degree from the Post- graduate College of the Social Science Institute of China, the People's Republic of China (the ``PRC''). Mr. Guo held various mid to senior managerial positions including head of automatic measurement department, head of personnel department and deputy plant manager of the former Ningguo Cement Plant and the secretary to the board of directors of and deputy general manager of Anhui Conch Cement Company Limited.

He has over 30 years' experience in the building materials industry and rich experience in capital markets, particularly specialising in corporate strategic planning, marketing planning and general administrative management. He has been a director and the chairman of the board of directors of Anhui Conch Venture Group Co. Ltd. from February 2011 and May 2013 respectively until the end of April 2015.

Mr. Guo has been an executive director of Conch Cement from October 1997 to 19 June 2014 and a non-executive director of Conch Cement from 20 June 2014 to 2 June 2016. Mr. Guo has been a director of Conch Holdings since January 1997. Mr. Guo is currently also a director of certain subsidiaries of the Company.

He was an independent non-executive director of China Logistics Property Holdings Co. Ltd. from June 2016 to March 2022 and of China Tian Yuan Healthcare Group Limited from August 2016 to July 2022. He has been appointed as a director on March 2020 and an executive director and the chairman of the board of directors of China Conch Environment Protection Holdings Limited from September 2021 to October 2022.

Owing to their pursuit of other work commitments, Mr. SHU Mao (``Mr. Shu'') and Mr. LI Daming (``Mr. Li'') have resigned as an executive Director, both with effect from 2 April 2024. Following Mr. Shu's resignation, he has ceased to be an executive deputy general manager of the Company and has been retained as a deputy general manager of the Company. Mr. Shu has also remained as the chairman of the board of directors of various subsidiaries of the Company.

Following Mr. Li's resignation, he has remained as the chairman of the board of directors of various subsidiaries of the Company. The Board announced that Mr. WANG Xuesen (``Mr. Wang''), Mr. HE Guangyuan (``Mr. He'') and Mr. WAN Changbao (``Mr. Wan'') have been appointed as an executive Director with effect from 2 April 2024. Pursuant to the Articles of Association, Mr. Wang, Mr. He and Mr. Wan will hold office as executive Directors until the first annual general meeting of the Company after their appointment and shall then be eligible for re-election at such annual general meeting.

Mr. Wang, aged 59, joined the Group in 2006 and served as the general manager of Yangzhou Haichang Port Industrial Co. Ltd. He was appointed as a deputy general manager of the Company in August 2013. He is currently the chairman of the board of directors of Haichang Port and is mainly responsible for the daily operations of the port logistics business.

Mr. Wang was also appointed as an executive deputy general manager of the Company with effect from 2 April 2024. He graduated from Anhui Finance and Trade College, the PRC in May 1988, majoring in statistical science. He also obtained a master's degree in business administration from Shanghai Maritime University, the PRC in September 2003.

Mr. He, aged 50, has over 30 years' experience in the building materials industry. Mr. He joined the predecessor of Conch Group in September 1993. Since February 2011, Mr. He has served as various managerial positions in the Conch Cement Group, including the general manager and party secretary of several subsidiaries.

He served as the head of the management committee in the Hunan Region of Conch Cement from May 2017 to October 2021. Since October 2021, Mr. He has also served as the executive president/president of Conch Cement in various regions, including the Central Region, Hunan Region, Greater Bay Area and the Guangdong Region, and is currently the president of Conch Cement in the Guangdong Region. Mr. He graduated from the Renmin University of China, the PRC in business administration in July 2010.

He was awarded the ``Outstanding Entrepreneur of the National Building Materials Industry'' in 2018. Mr. Wan, aged 43, was appointed as the deputy general manager of the Company with effect from 11 March 2024. He is primarily responsible for the production operation and engineering management of the new energy and new building materials businesses of the Company.

He has over 20 years' experience in cement production management, technological innovation and environmental protection. He has held various positions in Conch Cement from July 2007 to March 2015, including the deputy director of the production department of Ningguo Cement Plant, the assistant to the director of Ningguo Cement Plant and the deputy general manager of China Cement Plant. He served as the deputy director of Guangxi Region of Conch Cement from March 2015 to September 2015.

Subsequently, he successively served as the executive deputy director and director of the Chuanyu Region of Conch Cement and the general manager of Chongqing Conch Cement Co. Ltd. from September 2015 to May 2019. He served as an executive director of Conch Environment from April 2022 to October 2022.

Mr. Wan has served as the executive deputy general manager of Anhui CV since October 2022. Mr. Wan graduated from Luoyang Institute of Science and Technology, the PRC in silicate technology in June 2000, and obtained a correspondence college diploma in inorganic non- metallic materials engineering technology from Wuhan University of Technology, the PRC in July 2013.