The board of directors of China Hongqiao Group Limited announced that: Mr. Liu Xiaojun ("Mr. Liu") resigned to act as a non-executive Director with effect from 28 December 2023 due to work reallocation; and Mr. Zhang Hao ("Mr. Zhang") has ceased to act as an alternate Director to Mr. Liu with effect from 28 December 2023 subsequent to the resignation of Mr. Liu due to Mr. Liu's resignation. The Board announced that Mr. Tu Yikai ("Mr. Tu") has been appointed as a non-executive Director with effect from 28 December 2023. Mr. Tu, aged 47, graduated from Chongqing University in July 1999 and obtained a bachelor's degree, majoring in management.

He also graduated from University of Science and Technology Beijing in March 2002 and obtained a master's degree, majoring in management. From April 2002 to July 2002, Mr. Tu served as the account manager in the corporate business department of the banking department at the head office of China CITIC Bank Corporation Limited. From July 2002 to November 2002, he served as the account manager of the Fuhua Building Sub-Branch of the banking department at the head office of CITIC Bank.

From November 2002 to October 2006, he successively served as the account manager and senior account manager in the investment banking department of the banking department at the head office of CITIC Bank. From October 2006 to April 2008, he successively served as the deputy manager and manager of the strategic clients department of the corporate banking department of the banking department at the head office of CITIC Bank. From April 2008 to December 2008, he served as the assistant general manager of the corporate banking department of the banking department at the head office of CITIC Bank.

From December 2008 to April 2010, he successively served as the senior manager and deputy general manager of the second division of trust business of Citic Trust Co. Ltd. (, "Citic Trust"). From April 2010 to November 2015, he successively served as the deputy general manager and general manager of the third division of trust business of Citic Trust.

From July 2013 to March 2015, he served as the business director of Citic Trust. Since March 2015, he has been the deputy general manager of Citic Trust. Mr. Tu has also served various concurrent positions including the chairman of the board of Citic-prudential Fund Management Company Ltd. (since October 2021) and CITIC-CP Asset Management Company Ltd. (since January 2022).

He has also been the director of CTI Capital Management Limited (since April 2022), CITIC Consumer Finance Co. Ltd. (since January 2022), China Trust Registration Co. Ltd. (since March 2022) and China Trust Protection Fund Co.

Ltd. (since April 2022), and has been the vice chairman of China Trustee Association (since December 2021) and the board member of CITIC Foundation (since June 2021). He obtained the fund qualification from Asset Management Association of China in 2002 and also obtained the qualification of Certified Public Accountant in China in 2005. The Board also announced that Mr. Zhang has been appointed as an alternate Director to Mr. Tu with effect from 28 December 2023.

Mr. Zhang, aged 49, graduated from University of International Business and Economics, formerly known as China Institute of Finance with a bachelor of economics degree majoring in international finance in July 1996. Mr. Zhang served as a foreign exchange trader and the deputy manager of the treasury department of CITIC Bank successively from August 1996 to June 2003. He served as a director of the financial market department of Calyon Hong Kong Limited from July 2003 to June 2005, and an executive director of the financial market department of Bear Stearns Asia Limited from July 2005 to June 2008.

He also served as the managing director of the financial market department of Standard Chartered Bank (HK) Ltd, from July 2008 to July 2014. From 11 December 2017 to 2 February 2018 and from 31 August 2018 to 27 January 2021, he served as an alternate Director to Mr. Chen Yisong, a former non-executive Director. From 27 January 2021 to 29 December 2022, he served as an alternate Director to Mr. Li Zimin, a former non-executive Director.

From 29 December 2022 to 28 December 2023, he served as an alternate Director to Mr. Liu, a former non-executive Director. Since August 2014, Mr. Zhang has served as the chief executive officer and the director of CTI Capital Management Limited and also served in CTI Capital Hong Kong Limited, being a wholly-owned subsidiary of CTI Capital Management Limited and holding licenses issued by the Securities and Futures Commission of Hong Kong to carry out regulated activities) as the chief executive officer, the director, the responsible officer for type 1 (dealing in securities) and type 4 (advising on securities) regulated activities and the licensed representative for type 9 (asset management) regulated activities.