The Board of Gaush Meditech Ltd. announces that, with effect from August 24, 2023: 1. Mr. Shi Long has resigned as a non-executive Director of the Company; and 2. Ms. Li Wenqi has been appointed as an executive Director of the Company. Mr. Shi has confirmed that he has no disagreement with the Board and there is no other matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board would like to take this opportunity to express its gratitude to Mr. Shi for his invaluable contribution and continuous provision of strong support and assistance to the Company during his tenure of office with the Company.

Ms. Li Wenqi, aged 49, is the chief financial officer and a joint company secretary of the Company. Ms. Li is primarily responsible for the financial management, corporate governance, investor relation and informatization management of the Group. Ms. Li has over 20 years of experience in accounting and financial management.

She first joined the Global Vision Corporation* in August 1998 and served successively as cashier, accountant, financial supervisor, financial manager and financial controller. She has served as the vice president of the Company from January 2018 to January 2023 and was appointed as a joint company secretary of the Company on November 18, 2021 and the chief financial officer of the Company on January 10, 2023. Ms. Li received her bachelor's degree in accounting from Beijing Wuzi University in the PRC in July 1995.

She also obtained accounting specialist qualification conferred by the Ministry of Finance of the PRC in May 1999. Pursuant to the service contract entered into between the Company and Ms. Li, her initial term of office is three years commencing from August 24, 2023 or until the third annual general meeting of the Company since the date of her appointment, whichever is sooner, and unless terminated by not less than one month's prior notice in writing served by either party to the other. Ms. Li will hold office until the first annual general meeting of the Company and is eligible for re-election at such meeting, and she will be subject to retirement by rotation and re-election in accordance with the amended and restated memorandum and articles of association of the Company.

According to Ms. Li's service contract, she will receive a total remuneration of RMB 800,000 per annum, plus a discretionary management bonus, as recommended by the remuneration committee of the Board and determined by the Board with reference to her role and responsibilities with the Company.