China Greenland Broad Greenstate Group Company Limited announced that (i) Mr. Wu Zhengping has tendered his resignation as the executive Director, chairman of the Board and chief executive officer due to his retirement with effect from 1 September 2023 and (ii) Ms. Chen Min has tendered her resignation as the executive Director due to her work re-allocation arrangement with effect from 1 September 2023. After their resignations, Mr. Wu and Ms. Chen do not hold any position in the Group. The Board is also announced that Mr. Pei Gang has been appointed as an executive Director and chairman of the Board with effect from 1 September 2023.

Mr. Pei Gang, aged 40, currently takes up multiple roles in Greenland Holdings Corporation Limited, an ultimate substantial shareholder of the Company and its subsidiaries, including the general manager of the M&A center of Greenland Holdings, executive vice president of Greenland Jinchuang Technology Group Co., Ltd, president of Greenland Digital Technology Co. Ltd. Mr. Pei is also the director of Hangzhou Industrial and Commercial Trust Co., Ltd, chairman of the board of Shenzhen Lvxin Technology Group Co., Ltd, chairman of the board of Shanghai Lvyi Keyun City Operation and Management Co. Ltd. and vice chairman of Mingyu Business Travel Co.

Ltd. etc. Mr. Pei has been long engaged in the areas of financial investment and enterprise management, leading numerous iconic major investment and industrial restructuring projects, as well as holding important positions in multiple companies. He has rich experience in strategic planning,organizational management and enterprise operation control.

Mr. Pei was previously employed at Ping An Asset Management Co. Ltd., ABC Wuxi Equity Investment Fund, Changjiang Pension Insurance Co. Ltd., and other institutions.

Mr. Pei graduated from Tsinghua University in July 2005 with a bachelor's degree in water resources and hydropower construction engineering. The Board announced that Mr. Lin Guangqing has been appointed as the executive Director and chief executive officer of the Company)with effect from 1 September 2023. Mr. Lin Guangqing, aged 48, is currently the responsible person for the ecology and greenery business of Greenland Holdings and secretary and chairman of the communist party branch of Greenland Group Senmao Garden Co., Ltd, a subsidiary of Greenland Holdings.

From 2019 to 2021, he served as the executive vice general manager of Shanghai Landscape Industry Development Co., Ltd, a subsidiary of Shanghai Construction Group Co. Ltd. (stock code: 600170.SH). Mr. Lin graduated from Shanghai Jiaotong University school of agriculture and biology in June 1997 majoring in landscape architecture and is a senior engineer.

Mr. Lin has over 25 years of large scale state-owned landscape architecture and management experience, excels at operational management, has a broad vision and holistic approach as well as a proactive business mindset. Mr. Lin has entered into a letter of appointment with the Company for a term of three years commencing from 1 September 2023. Mr. Lin will hold office until the AGM and shall be eligible for re-election at the AGM and retirement by rotation in accordance with the provisions of the articles of association of the Company.

Mr. Lin will not receive any remuneration from the Company. The Board further announces that with effect from 1 September 2023, Mr. Pei has been appointed as a member of each of the nomination committee and the remuneration committee of the Board. Following Mr. Pei's appointment as a member of the nomination committee and the remuneration committee, the Company has complied with the requirements on minimum number of members of each aforementioned board committees of the Company under their respective terms of reference.