GCL New Energy Holdings Limited announces that, Mr. Gu Zengcai has been appointed as an executive Director and a member of each of the corporate governance committee and the risk assessment committee of the Company with effect from 27 October 2023. Mr. Gu, aged 60, is currently the vice president of Golden Concord Group Limited controlled by a discretionary trust of which Mr. Zhu Gongshan and his family and the general manager of its property rights management centre. Mr. Gu is also an executive director of Shanghai Hengfu Sanchuan Equity Investment Co.

Ltd., a non-executive director of ArtGo Holdings Limited and an independent director of Shenzhen Jianyi Decoration Group Co. Ltd. Mr. Gu worked for the finance division of Printing and Dyeing Mill of Yancheng City, Jiangsu from July 1982 to September 1993 in the capacities of deputy chief in charge and the chief in charge. He also worked as a director of the audit department and vice manager of the finance department at Zhuhai Port Co.

Ltd. from October 1993 to August 1994. From September 1994 to April 2002, Mr. Gu served as an executive deputy director of Zhuhai Huayin City Credit Cooperatives, and president of the branch of China Resources Bank of Zhuhai Co. Ltd., the general manager of the capital planning department and of the finance department, the office director of the policy research centre and the general manager of the credit department of the main office of the CR Bank.

From May 2002 to August 2012, Mr. Gu was the chief accountant and deputy general manager of Zhuhai Jiuzhou Holdings Group Co. Ltd. Mr. Gu was also an executive director of the Zhuhai Holdings Investment Group Limited from October 2003 to August 2012 and the deputy chairman of the board of directors in the same company from August 2006 to August 2012. From June 2021 to May 2023, Mr. Gu was an independent director of GCL System Integration Technology Co.

Ltd. Mr. Gu graduated from the profession of industrial accounting school of Jiangsu Radio and TV University in 1986. Mr. Gu obtained the certificate of the accountant and auditor in the year of 1992 and the certificate of Chinese Public Accountant in 1993. Ms. Hu Xiaoyan ("Ms. Hu") has resigned as an executive director and a member of each of the Corporate Governance Committee and the Risk Assessment Committee of the Company with effect from 27 October 2023 as she would like to devote more time to her personal career development.