GD Culture Group Limited announced that on April 21, 2023, Mr. Hongxiang Yu tendered his resignation as the Chief Executive Officer, effective April 21, 2023. The resignation of Mr. Hongxiang Yu was not a result of any disagreement with the Company's operations, policies or procedures. On April 21, 2023, approved by the Board of Directors, the Nominating and Corporate Governance Committee and the Compensation Committee, Mr. Xiao Jian Wang was appointed as the Chief Executive Officer of the Company, effective April 21, 2023.

Mr. Xiao Jian Wang, age 34, was the Vice President of Business Development at Foregrowth Inc. in Vancouver, Canadam, where he formulated and executed comprehensive business plans, achieving defined sales targets and driving market expansion, conducted training sessions for financial advisors, equipping them with in-depth knowledge of compliance requirements, market insights, and product features, and conducted extensive research and due diligence on potential alternative investment opportunities, resulting in successful acquisitions and partnerships. Prior to that, Mr. Wang was a Private Banking Consultant and an Interbank Commercial Paper Trader at China Minsheng Bank in Chongqing, China. Mr. Wang received his Bachelor of Science in Mathematics degree from University of British Columbia in 2012.