On November 10, 2022, Mr. Tianxiang Zhu tendered his resignation as the Chief Operating Officer and a director of Code Chain New Continent Limited (Company), effective November 10, 2022. The resignation of Mr. Tianxiang Zhu was not a result of any disagreement with the Company's operations, policies or procedures. On November 10, 2022, Mr. Chengwei Mo tendered his resignation as a director, the Chair of the Audit Committee, and a member of the Nominating and Corporate Governance Committee and the Compensation Committee of the Company, effective November 10, 2022.

The resignation of Mr. Chengwei Mo was not a result of any disagreement with the Company's operations, policies or procedures. On November 10, 2022, the Board of Directors appointed Ms. Jing Zhang, an existing director and a member of the Audit Committee, the Nominating and Corporate Governance Committee and the Compensation Committee of the Company, as the Chair of the Audit Committee, effective November 10, 2022. The Board has determined that Ms. Zhang is independent within the meaning of Nasdaq Listing Rule 5605(a)(2) and meets the “audit committee financial expert” standards of the SEC for service on the Audit Committee.