The board of directors of China Ludao Technology Company Limited announces that Mr. Wang Xiaobing, an existing executive Director, has also been appointed as deputy chairman of the Board with effect from 30 September 2022. He will assist the chairman of the Board on the overall corporate development and strategic planning of the Group. Mr. Wang, aged 48, was appointed as an executive Director on 16 May 2014.

Mr. Wang joined the Group in 2010 as the head of research and development department and was primarily responsible for overseeing the research and development centre and monitoring the quality control of the Group. He is currently the general manager of Zhejiang Ludao Technology Co. Ltd. ("Ludao PRC ") and primarily responsible for the overall operation management.

Prior to joining the Group, Mr. Wang had worked for a subsidiary of China Flavors and Fragrances Company Limited (the shares of which are listed on The Stock Exchange of Hong Kong Limited (stock code: 3318)) in various capacity including engineer, technical manager and general supervisor of the department for daily-use fragrance and flavors. He has professional and managerial experiences in research and development on daily chemical products and technical communication and services. Mr. Wang studied applied chemistry and graduated from the Nanchang Vocational Technology Normal University in July 1998.