The board of directors of China Wantian Holdings Limited announced that Mr. Liu Chi Ching ("Mr. Liu"), an executive Director, resigned as the vice-chairman of the Board with effect from 11 October 2023 due to the Group's reassignment of duties and responsibilities. Mr. Liu will remain as an executive Director, a member of the remuneration committee of the Company (the "Remuneration Committee") and the authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Further, the Board announced that Mr. Zhong Xueyong ("Mr. Zhong"), an executive Director and the chief executive officer of the Company, has been appointed as the vice-chairman of the Board in place of Mr. Liu with effect from 11 October 2023.

Mr. Zhong, aged 39, was appointed as an executive Director on 19 August 2021 and the chief executive officer of the Company on 29 September 2021, respectively. He also serves as a director of certain subsidiaries of the Company. Mr. Zhong is the founder and acted as chairman of Guangdong Wangu Industrial Development Company Limited.

He is the co-founder and has served as the chief executive officer of China Wantian International Group Limited. Mr. Zhong is the co-founding chairman of Greater Bay Area Association of Listed Companies. Mr. Zhong is a controlling shareholder and a director of Ace Source Holdings Limited.