The board of directors of China Oceanwide Holdings Limited announced that Mr. HAN Xiaosheng has resigned as the executive Director with effect from 6 September 2022 due to the change in work arrangement. Mr. HAN Xiaosheng confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders (the "Shareholders") of the Company. The Board also announced that Mr. HAN Xiaosheng ceased to be a chairman (the "Chairman") of the Board, a chief executive officer ("CEO") and an authorised representative of the Company, and Mr. LIU Guosheng, the executive Director, has been appointed as the Chairman, CEO and the Authorised Representative, with effect from 6 September 2022.

Following the aforesaid change of the Chairman and CEO, Mr. LIU Guosheng will assume the dual roles of the Chairman and CEO. Mr. LIU Guosheng, aged 53, has been the executive Director since November 2014. Mr. LIU Guosheng is also a director of several subsidiaries of the Company.

He is a senior accountant in the People's Republic of China and is currently a president, chief financial officer and deputy chairman and was an executive vice president (from 2021 to 2022) of Oceanwide Holdings Co. Ltd.* (the shares of which are listed on the Shenzhen Stock Exchange, stock code: 000046). Mr. LIU Guosheng obtained a Bachelor's degree in economics from Hangzhou Institute of Electronic Industry (currently known as Hangzhou Dianzi University) in July 1991 and a Master's degree in economics from Wuhan University in December 2008.

The Board announced the following changes in the composition of the nomination committee (the "Nomination Committee") under the Board with effect from 6 September 2022: Mr. HAN Xiaosheng ceased to be a chairman of the Nomination Committee; and Mr. LO Wa Kei Roy, the independent non-executive Director, has been appointed as a chairman of the Nomination Committee. Subsequent to the aforesaid changes, the Nomination Committee comprises Mr. LO Wa Kei Roy (committee chairman), Mr. LIU Jipeng and Mr. YAN Fashan, the independent non-executive Directors. The Board announced the following changes in the composition of the Remuneration Committee with effect from 6 September 2022: Mr. HAN Xiaosheng ceased to be a member of the Remuneration Committee; and Mr. LIU Guosheng has been appointed as a member of the Remuneration Committee.

Subsequent to the aforesaid changes, the Remuneration Committee comprises Mr. YAN Fashan (committee chairman), the independent non-executive Director, Mr. LIU Guosheng, the executive Director, and Mr. LO Wa Kei Roy, the independent non-executive Director.