The board of directors of China Singyes New Materials Holdings Limited announced that Mr. Nie Yuanzhou has resigned as an Executive Director due to his other business commitments with effect from 17 October 2023. Mr. Nie Yuanzhou has confirmed that he has no disagreement with the Board and that there are no matters with respect to his resignation that need to be brought to the attention of the shareholders of the Company. The Board also announced that Mr. Zhu Xuping has been appointed as an Executive Director with effect from 17 October 2023.

Mr. Zhu, aged 50, is currently the Chief Financial Officer of the Company, a position he assumed from March 2023. In 2011, Mr. Zhu was an Accountant at Hunan Singyes Solar Technology Co. Ltd. He was transferred to Hunan Singyes Green Energy Technology Co.

Ltd. in 2014 as an Accounting Supervisor, responsible for overseeing and managing the company's financial work. In October of the same year, he was promoted to Deputy Manager of the Finance Department, responsible for implementing the company's various financial policies and systems. From January 2018 to September 2019, Mr. Zhu worked as Deputy Manager of the Finance Department at Hunan Singyes Green Power Technology . Co.

Ltd. He was subsequently transferred to Hunan Singyes Solar Technology Co. Ltd. the Manager of the Finance as Department and was promoted to Chief Financial Officer of the company in January 2020. Since September 2021, Mr. Zhu holds a concurrent post as the Financial Controller of Jiangxi Yaxing Construction Co., Ltd, a direct majority-owned subsidiary of China Shuifa Singyes Energy Holdings Limited.

Mr. Zhu has solid professional knowledge and extensive work experience in finance. Mr. Zhu has entered into a service agreement with the Company for a term of three years, which may be terminated by either party giving three month's 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 Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited.

Pursuant to the Bye-laws, Mr. Zhu is subject to re-election at the first general meeting of the Company after his appointment. Mr. Zhu will not receive any remuneration from the Company pursuant to his a service agreement.