The board of directors of Gaush Meditech Ltd. announced that, with effect from March 25, 2024, Mr. Liu Xinwei () ("Mr. Liu"), currently an executive Director and the co-chief executive officer of the Company, has been appointed as the new chief executive officer (the "Chief Executive Officer") of the Company. In light of Mr. Liu's new role as the Chief Executive Officer, Mr. Liu has ceased to act as the co-chief executive officer of the Company with effect from the same date. As an executive Director and the Chief Executive Officer, Mr. Liu is responsible for the overall operations and management of the Group, participating in the formulation of business plans and annual targets and leading the achievement of the Group's annual targets. With effect from the same date, Mr. Gao Tieta () ("Mr. Gao"), an executive Director and the chairman of the Board, has ceased to act as the Chief Executive Officer due to a redesignation of duties in the Group. Upon the cessation as the Chief Executive Officer, Mr. Gao will remain as an executive Director and the chairman of the Board, and he will be responsible for the overall strategic development of the Group, overseeing the overall operations and management of the Group and participating in the decision-making of major issues such as formulation of investment plans and annual business targets. Mr. Liu, aged 42, has around 11 years of experience in the medical industry. Mr. Liu joined the Group as the board secretary of Gaush Medical Corporation, a wholly-owned subsidiary of the Company, in May 2016. Mr. Liu served as the chief financial officer of the Company from December 2018 to January 2023. He has served as a Director since November 21, 2019 and was re-designated as the executive Director on November 18, 2021. Mr. Liu served as the co-chief executive officer of the Company from January 2023 to March 2024. Mr. Liu also holds directorship in Gaush Europe GmbH,
Gaush Coöperatief U.A., Gaush Teleon Ltd. and Gaush Neotech Ltd., all of which are wholly-owned subsidiaries of the Company. Mr. Liu received his master degree in business administration from Tsinghua University in July 2013. He received his bachelor degree in information engineering from Zhejiang University in June 2004. Mr. Liu holds a legal professional qualification certificate issued by the Ministry of Justice of the PRC in March 2013 and became a non-practising member of the Beijing Institute of Certified Public Accountants in April 2017.