The board (the "Board") of directors (the "Directors") of Golden Solar New Energy Technology Holdings Limited announced that Mr. He Shuangquan ("Mr. He") has been appointed and replaced Mr. Leung Tsz Chung ("Mr. Leung") as the Chief Executive Officer of the Group with effect from 17 October 2022. Mr. He has also been appointed as the Chief Executive Officer of Golden Solar (Quanzhou) New Energy Technology Co. Ltd. which is an indirect wholly-owned subsidiary of the Company with effect from 17 October 2022.

Mr. He, aged 50, has more than 26 years working experience with more than 13 years experience in the photovoltaic industry in China. Prior to joining the Group, Mr. He worked in Wuxi Suntech Power Co. Ltd. with his last position as president.

Mr. He is also a Tutor of Renmin University of China Business School, and Vice President of Jiangsu Photovoltaic Industry Association, Executive Director of Jiangsu Province Renewable Energy Industry Association, Executive Director of China Renewable Energy Council (Wuxi) and Vice Chairman of the Residential Photovoltaic Committee of the China Photovoltaic Industry Association. Mr. He obtained a master's degree in humanities and social sciences with a major in philosophy from Jean Moulin Lyon 3 University in June 2021. Mr. Leung has resigned as the Chief Executive Officer of the Group due to his wills of devoting more time to the development and expansion of the business of the Group.

However, he will continue to perform his duties as the Chairman of the Group and an executive Director.