The board of directors of China Hongqiao Group Limited announced that Mr. Xing Jian has informed the Company that he would retire as an independent non-executive Director of the Company pursuant to the Articles of Association of the Company with effect from the conclusion of the forthcoming annual general meeting (the "AGM") of the Company to be held on 16 May 2023 and will not stand for re-election due to his health condition. Upon his retirement as a Director, Mr. Xing Jian will also cease to be chairman of the nomination committee and a member of the audit committee and the remuneration committee of the Board.