The board of directors of China Saftower International Holding Group Limited announced that with effect from 19 January 2024 (after trading hours) Mr. Luo Qiang (Mr. Luo) resigned as an executive Director due to his other career commitments which require more of his attention. Mr. Luo has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that needs to be brought to the attention of the holders of securities of the Company. The Board announced that, with effect from 19 January 2024, each of Mr. Li Xia (Mr. Li), Mr. Hu Yi (Ms. Hu) and Mr. Wang Yifan (Mr. Wang) has been appointed as an executive Director.

The biographical details of the above-mentioned Directors are set out as below: Mr. Li Xia, aged 40, has over 9 years of experience in business management and administration. Mr. Li is currently a director of NE Investment Ltd, a company incorporated under the laws of British Virgin Islands, and an indirect wholly owned subsidiary of the Company. Mr. Li has been the chairman of Chengdu Jinyi Technology Development Co.

Ltd. since April 2018. Prior to that, Mr. Li was an executive director and general manager of Chengdu Shanfutong Technology Co. Ltd. from February 2014 to March 2018.

Mr. Li graduated from Communication University of China in PRC in July 2022 majoring in administration. Mr. Li has entered into a service agreement with the Company for a term of one year with effect from 19 January 2024. His appointment is subject to retirement by rotation and re-election and other related provision as stipulated in the articles of association of the Company and The Rules of Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules").

Ms. Hu Yi, aged 38, has over 16 years of experience in accounting and finance. Ms. Hu joined the Group since June 2015 and is currently working at the Company's asset management department, responsible for overall management of the Group's assets, corporate finance projects, internal control and internal audit work. Ms. Hu currently also serves as a director of one of the subsidiaries of the Group, namely Guangyuan Tongchuang New Materials Company Limited.

Prior to that, Ms. Hu worked at the finance department of Sichuan Hengfeng Air Compressor Co. Ltd. from March 2011 to December 2014, and she worked at the finance department of Miajiale (Beijing) Technology Co. Ltd. from July 2007 to July 2009.

Ms. Hu passed the National Uniform CPA Examination of PRC in November 2023. Ms. Hu graduated from Southwestern University of Finance and Economics in PRC in December 2020 majoring in accounting. Mr. Wang Yifan, aged 29, has over 7 years of experience in corporate finance.

Mr. Wang was the director of corporate investment department of Swenson Asset Management Limited from September 2022 to November 2022. Prior to that, Mr. Wang was a vice president of the Greater China business development department and a licensed representative under the Securities and Future Ordinance (Cap. 571) of CLC Securities Limited from July 2018 to December 2021, and he was the project investment director of Shenzhen Zhongzhi Capital Management Co.

Ltd. from July 2016 to May 2022. Mr. Wang obtained the Certification of Securities Profession granted by the Securities Association of China in June 2015. Mr. Wang obtained a bachelor degree of business administration at Fort Hays State University in the United States in May 2016, and he graduated from Zhengzhou University in PRC in July 2016 majoring in finance.