CXJ Group Co., Limited announced that on December 12, 2022, the company held a special meeting of the Board of Directors in accordance with the Articles of Association, which was convened and presided over by Xinrui Wang, a member of the Board of Directors. At this meeting, the Board of Directors decided to remove Lixin Cai from the Chairman of the Board of Directors of the company and appoint Director Xinrui Wang as the new Chairman of the Board of Directors of the Company. Lixin Cai will continue to serve as the CEO of the Company.

Xinrui Wang, aged 43, graduated from Dahua Group Technical College and obtained his Fine Chemical Bachelor's degree from University of Science & Technology, Beijing in 2002. Xinrui Wang has extensive knowledge in network optimal design, mathematical modeling and enterprises management. From June 2019 to now, He invested in CXJ Group Co.

Ltd. and serves as a director based on his previous years' experience in e-commerce and was interest in automobile products manufacturing and selling. The removal and appointment will take effect on the date of the announcement.