The board of directors of the Company announced that on 26 October 2023, the Board considered and approved the "resolution to propose and consider the appointment of Mr. Wang Sheng as the Chairman of the Company". According to the work arrangement, the Board agreed that Mr. Wang Sheng shall serve as the Chairman of the Board, the legal representative of the Company, the Chairman of the Executive Committee of the Company and the Chairman of the Strategy and Development Committee of the Board in accordance with the provisions of the articles of association of the Company and other regulations, and shall no longer serve as the Vice Chairman of the Board and the Vice Chairman of the Executive Committee of the Company; and at the same time, he shall act as the acting secretary of the Board in accordance with the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange. The above appointment shall be effective from 26 October 2023.

Wang Sheng, male, born in June 1977, has been serving as President and Vice Chairman of the Executive Committee of the Company since July 2022; an Executive Director and Vice Chairman of the Board of the Company since August 2022; and the secretary of the Party Committee of the Company since October 2023. Mr. Wang Sheng has served as the deputy secretary of the Party Committee of the Company from July 2022 to October 2023. Mr. Wang Sheng graduated from the School of Economics and Management of Tsinghua University and obtained a bachelor's degree in management information system and a master's degree in management science and engineering in 2000 and 2002, respectively.

Mr. Wang Sheng joined China International Capital Corporation Limited ("CICC") in 2002. He successively participated in the reform and restructuring of companies in various industries, including telecommunications, finance, energy, and pharmaceuticals, served many leading domestic and foreign enterprises and led numerous landmark capital market transactions. Since 2010, Mr. Wang Sheng has held managerial positions in the Investment Banking Department of CICC.

He served as the executive head of the Investment Banking Department of CICC from June 2016 to March 2018; the assistant to the president and the executive head of the Investment Banking Department of CICC from March 2018 to March 2020; a member of the Management Committee and the head of the Investment Banking Department of CICC from March 2020 to January 2021; and a member of the Party Committee, a member of the Management Committee and the head of the Investment Banking Department of CICC from January 2021 to July 2022.