Dynasty Fine Wines Group Limited announced that Mr. Li Guanghe has tendered his resignation as an executive director of the Company with effect from 17 March 2023, and Mr. He Chongfu is appointed as an executive director of the Company with effect from 17 March 2023. Mr. He Chongfu, aged 45, was appointed in January 2023 as a deputy secretary of communist party committee, director and the general manager of a subsidiary of the Company, namely, Sino-French Joint-Venture Dynasty Winery Limited. Mr. He graduated from University of Tianjin majoring in precision chemical engineering and engineering management, with double bachelor's degrees in 2000.

He then worked at LG electronics (Tianjin) Appliances Company Limited and Prysmian Group from 2000 to 2012. His then responsibilities ranged from marketing, sales and export business. Mr. He also obtained a master degree in business administration from Nankai University in 2009.

From 2012 to 2020, he held sales and management positions at Tianjin Limin Condiment Company Limited and his last held position there was a sales director. From 2020 to January 2023, he served as the deputy secretary of communist party committee, director and general manager of Tianjin Food Group Trading Company Limited. Tianjin Limin Condiment Company Limited and Tianjin Food Trading are both subsidiaries of Tianjin Food Group Co.

Ltd., the controlling shareholder of the Company holding 44.7% of the issued share capital of the Company as at the date of this announcement. Mr. He is also a director of Tian Shi Kang Yi Catering Co. Ltd., an associate of Tianjin Food Trading.

He has extensive experience in sales, trading and management.