CHYY Development Group Limited announced that Mr. Chen Ning has been appointed as the chief financial officer of the company, with effect from November 24, 2023. Mr. Chen, aged 43, is a member of Beijing Institute of Certified Public Accountants, a senior accountant approved by the Beijing Senior Specialized Technique Qualification Evaluation Committee, and a certified tax agent of The China Certified Tax Agents Association. He holds a master's degree in management of Beijing Information Science and Technology University.

Mr. Chen has extensive experience in corporate investment and financing, financial management, corporate governance, and company secretarial matters. Mr. Chen has served as the chief financial officer in several subsidiaries of an energy enterprise group and an executive director, chief financial officer and vice president of a company listed on the Main Board of the Stock Exchange. Mr. Chen does not meet the academic or professional qualifications of a company secretary under Rule 5.14 of the GEM Listing Rules.

But considering the virtue of his relevant experience, the Stock Exchange agrees that Mr. Chen has attained the relevant experience and is capable of discharging the functions of a company secretary under Rule 5.14 of the GEM Listing Rules such that a waiver will not be necessary.