The board of directors of China Gingko Education Group Company Limited announced that Mr. Fang Gongyu ("Mr. Fang") will cease to be the chief executive officer of the Company (the "Chief Executive Officer") with effect from 4 February 2022. Mr. Fang will remain as the chairman of the Group (the "Chairman"), an executive director of the Company (the "Executive Director") and the chairman of the Company's nomination committee. The Board announced that Dr. Ma Yi ("Dr. Ma") has been appointed as the Chief Executive Officer with effect from 4 February 2022.

Dr. Ma From 2011 to 2016, Dr. Ma worked at KPMG Corporate Finance Limited as manager, senior manager and associate director, respectively. From 2016 to 2018, Dr. Ma was the department head of mergers & acquisitions (the "M&A") of BOCOM International Holdings Company Limited.