The board of directors of China Infrastructure Investment Limited announced that, Mr. Xu Xiao Jun has tendered his resignation as an executive Director and a member of the remuneration committee (Remuneration Committee) of the company with effect from 18 September 2023 due to his other career commitment. The Board announced that with effect from 18 September 2023, Mr. Xu Feng (Mr. Xu) has been appointed as an executive Director of the Company. Mr. Xu Feng ("Mr. Xu"), age 50, graduated from Peking University Guanghua School of Management.

Mr. Xu is a member of China Democratic National Construction Association. He has been served as Deputy to the 13th, 14th and 15th National People's Congress of Qiqihar City, Standing member of the 12th Committee of the Chinese People's Political Consultative Conference (CPPCC) of Qiqihar City, Vice Chairman of the Ninth Committee of Qiqihar Youth Federation and the Fifth Youth Chamber of Commerce of Qiqihar City, Member of the Standing Committee of Qiqihar Municipal Committee of the China Democratic National Construction Association. He has been awarded the honorary title of Qiqihar City "excellent youth entrepreneur", Qiqihar City "May 4th Youth Medal" and "Advanced Individual of National Social Service Work" rated by The China Democratic National Construction Association Central Committee.

Mr. Xu had almost twenty years of working experience with Xuzhou Construction Machinery Group Co., Limited ("XCMG") managing the sales and marketing of XCMG products. The team he leads has a high reputation and influence of XCMG products in the heavy equipment industry. Thereafter, Mr. Xu acted as the national and general agent of XCMG products in Heilongjiang Province, Shandong Province, Inner Mongolia and Russia, He operates 48 branches or offices in the above districts and employ more than 800 employees.

Mr. Xu and his team have been awarded as the best distributor by XCMG for more than 10 years in a row, and have been awarded as the provincial and municipal "Contract Abiding and Credit Valuing" enterprise and the provincial and municipal "Youth Civilization" enterprise for many years. Following the resignation of Mr. Xu Xiao Jun, Mr. Xu Feng will be appointed as a member of the Remuneration Committee, with effect from 18 September 2023.