The board of directors of China Shuifa Singyes Energy Holdings Limited announced that Mr. Wang Dongkai has resigned as an executive Director, the Chairman of the Board, a member of the remuneration committee of the Company and the chairman of the nomination committee of the Company due to his other business commitments and Mr. Liu Hongwei has resigned as a Non-Executive Director due to his retirement with effect from 14 May 2024. The Board also announced that Mr. Wang Jian has been appointed as an executive Director, the Chairman, a member of the Remuneration Committee and the chairman of the Nomination Committee with effect from 14 May 2024. Mr. Wang, aged 54, has joined Shuifa Group Co.

Ltd. (a controlling shareholder of the Company) as deputy secretary of the Party Committee since April 2024. Mr. Wang graduated from Shandong Mining University and has extensive work experience in corporate management. From August 1998 to January 2008, he served as secretary of the general manager office, deputy director of the party committee office and general manager of Yankuang Energy Group Co.

Ltd. Deputy Director of the Office, from January 2008 to September 2020, he served as director, general manager and chairman of Jinan Sunshine Yibai Real Estate Development Co. Ltd. From September 2020 to April 2024, he served as a member of the party committee and deputy general manager of Shandong Yiyang Health Industry Development Group Co. Ltd. Mr. Wang has entered into an appointment letter with the Company for a term of three years, which may be terminated by either party giving three months' written notice to the other party.

He is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the Bye-laws of the Company and as required under the Listing Rules (as defined below). Pursuant to the Bye-laws, Mr. Wang is subject to re-election at the first annual general meeting of the Company after his appointment. Mr. Wang will not receive any remuneration from the Company pursuant to his appointment letter.