The Board of directors of China Supply Chain Holdings Limited announced that with effect from 1 December 2023, Mr. Li Zhining had resigned as an independent non-executive Director of the Company and had ceased to be member of each of the remuneration committee of the Company, the audit committee of the Company and the nomination committee of the Company due to recent personal health reasons. In addition, the Board further announced that with effect from 1 December 2023: Mr. Chen Wei has been appointed as an independent non-executive Director of the Company, the member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee. Mr. Chen, aged 25, graduated from University of California, Irvine in 2020.

Mr. Chen is now acting as an assistant investment manager in Suzhou Yidian Capital Management Company Limited. He has professional knowledge and experienced in the fields of investment and asset management. Mr. Chen has entered into an appointment letter with the Company for a term of three years commencing from 1 December 2023, subject to rotation and re-election at annual general meetings of the Company in accordance with the articles of association of the Company.

The appointment of Mr. Chen can be terminated by either party by giving not less than one month's written notice in advance. The Board also announced that with effect from 1 December 2023, following the resignation of Mr. Li and the appointment of Mr. Chen as an independent non-executive Director as mentioned above, Mr. Chen has been appointed the member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee.