China Ruyi Holdings Limited announced that Mr. Wan Chao has resigned as an executive Director due to his personal work adjustment, with effect from the appointment of a new non-executive Director by way of an ordinary resolution by Shareholders at the AGM. The Board announced that pursuant to resolution numbered 2.(a) passed by the Shareholders at the AGM, Mr. Yang Ming (``Mr. Yang'') has been appointed as a non-executive Director. Mr. Yang has entered into a letter of appointment with the Company, pursuant to which Mr.
Yang agrees to act as a non-executive Director for a term of three years commencing from 28 June 2023.