The board of directors of Everbright Grand China Assets Limited announced that Ms. Wang Yun has resigned as a non-executive Director with effect from 12 December 2023 in order to devote more time to her other business commitment. The Board also announced that Ms. Yin Junyan has been appointed as a non-executive Director with effect from 12 December 2023. Ms. Yin, aged 49, has served as an experienced business manager of financial management department of China Everbright Holdings Company Limited and a director of Capital Century Company Limited since December 2023.

Each of the aforementioned companies is a controlling shareholder of the Company. Prior to that, Ms. Yin has served various positions at China Everbright Group Ltd. from June 2000 to December 2023, including the auditor of audit department from June 2000 to April 2003, deputy principal staff member of bank audit division of audit department from April 2003 to March 2007, the principal staff member of bank division of audit department from March 2007 to May 2009, the principal staff member of accounting division of financial management department from May 2009 to October 2012, the deputy chief of accounting division of financial management department from October 2012 to December 2014, the chief of accounting division of financial management department from December 2014 to August 2016, the senior manager of accounting division and tax division of financial management department from August 2016 to August 2018, the chief of accounting management division and tax management division of financial management department from August 2018 to August 2019, the chief and the experienced business manager of the listing office from August 2019 to December 2019 and from December 2019 to August 2022, respectively and the experienced business manager of the supervisory board office from August 2022 to December 2023. Prior to joining Everbright Group, Ms. Yin worked as an accountant at Beijing No.

3 Soybean Products Factory from August 1997 to November 1998 and a project manager at Beijing Tianhua Accounting Firm from November 1998 to March 2000. Ms. Yin holds a Bachelor's degree in economics from the Central University of Finance and Economics major in accounting, and a Master's degree in accounting from the Peking University Guanghua School of Management. Ms. Yin is currently a senior accountant in China and a non-practicing member of The Chinese Institute of Certified Public Accountants.

Ms. Yin has entered into a service agreement with the Company commencing from 12 December 2023 for a term of three years, and is subject to retirement from office and re-election at the next following general meeting of the Company in accordance with the articles of association of the Company. Under the terms of her service agreement with the Company, Ms. Yin is not entitled to any basic salary or director's fee from the Group.