China Youran Dairy Group Limited announced the following changes in the composition of the Board with effect from July 28, 2023. Mr. Zhang Yujun has resigned as a non-executive Director and the chairman of the Board of the Company; and Mr. Wu Xiang has been appointed as a non-executive Director and the chairman of the Board of the Company. Mr. Wu, aged 47, joined Inner Mongolia Yili Industrial Group Co.

Ltd. in May 2000. Mr. Wu has over 23 years of experience in the dairy industry. He started his career at the liquid milk division of Yili Group.

Mr. Wu then held various positions, such as the technical director, factory head and general manager, at several subsidiaries of the liquid milk division of Yili Group from May 2001 to September 2012. Mr. Wu successively served as the deputy director and director of the quality management department of the liquid milk division of Yili Group from September 2012 to February 2017. Mr. Wu successively worked as the head of the production system of the milk powder division, the deputy general manager and general manager of the cold drink division, and the general manager of the yogurt division of Yili Group from March 2017 to July 2023.

He has been appointed as the general manager of the liquid milk division of Yili Group since July 2023. As at the date of this announcement, Mr. Wu was also appointed as the chairman of Inner Mongolia Youran Dairy Co. Ltd., a subsidiary of the Company.

Mr. Wu graduated from Inner Mongolia Agricultural University in 1999, majoring in food engineering.