China Modern Dairy Holdings Ltd. announced that, Mr. Sun Yugang has been promoted from the current position of the acting chief executive officer to the chief executive officer of the Group with effect from June 30, 2022. Mr. Sun, aged 42, is currently an executive Director of the Company. Mr. Sun worked for the finance and investment department of Inner Mongolia Mengniu Dairy (Group) Co.

Ltd. between May 2002 and March 2007. Mr. Sun was the chief financial officer, executive Director and vice president of the Company from March 2007 to September 2016 and a non-executive Director of the Company from October 2016 to March 2017. Mr. Sun worked for Hebei Yinong Network Technology Co.

Ltd. as a director, vice president and chief financial officer from October 2016 to August 2018 and for Jiangsu Yuguan Modern Agricultural Technology Co. Ltd. as a vice president and chief financial officer from August 2018 to October 2019. Mr. Sun re-joined the Group in November 2019 as the executive vice president of the Group, and was appointed as an executive Director of the Company in April 2020.

Mr. Sun graduated from Inner Mongolia Finance and Economics College, majoring in accounting. Mr. Sun has extensive experience in financial management, corporate financing, mergers and acquisitions, farm operations and corporate development.