The board of directors of Gudou Holdings Limited announced that Ms. Zhen Yaman (Ms. Zhen) has resigned as an executive director and the chairman of the compliance committee (the Compliance Committee) of the company, with effect from 16 June 2022, due to her own business engagement which requires more of her attention and dedication. The board further announced that Mr. Liang Juquan (Mr. Liang) has been appointed as an executive director of the company with effect from 16 June 2022. Mr. Liang, aged 49, joined its Group in October 2002.

Mr. Liang was promoted progressively over the years to the vice president of Guangdong Gudou Travel Group Company Limited, in January 2015 and is mainly responsible for the development and sales of its Group's tourism property development operation and assisting its chairman in liaising with governmental administrative departments. Mr. Liang graduated from Jiangmen City Xinhui District Technical Secondary School in the PRC with a diploma in marketing in July 2001. Mr. Liang has been a qualified construction management assistant engineer since December 2014 as certified by the Jiangmen City Xinhui District Human Resources and Social Security Bureau.

He completed a training course on the real estate development statistical reporting system provided by Guangdong Real Estate Association in November 2007. On 16 June 2022, Mr. Liang entered into a letter of appointment with the company for a term of three years and his appointment may be terminated by Mr. Liang or the Company by giving not less than three months' prior notice in writing. Mr. Liang is entitled to a director's fee of HKD 60,000 per annum pursuant to the letter of appointment.

Mr. Liang's remuneration package is generally structured by reference to market terms. Redesignation of members of the Board's committees: The board is also announced that Mr. Li Yanan (Mr. Li) has been appointed as the chairman of the Compliance Committee in place of Ms. Zhen with effect from 16 June 2022. Mr. Li, aged 52, joined its Group in December 2015 as the member of Compliance Committee. Mr. Li is a partner of Guangdong Guanhong Law Firm.

Mr. Li obtained his Legal Qualification Certificate in September 1995 and has over 20 years of experience in legal and compliance matters. The Board has resolved and approved the change of chairman of the nomination committee of the Company (the Nomination Committee) as follows, with effect from 16 June 2022:(i) Mr. Wu Sai Him (Mr. Wu) has ceased to be the chairman of the Nomination Committee; and (ii) Mr. Hon Chi Ming (Mr. Hon), an executive Director, chairman of the Board and the chief executive officer of the Company has been appointed as the chairman of the Nomination Committee. Mr. Hon is familiar with the corporate strategy and business operation of the Company and played an important role in reviewing the structure of the board and management team of the Company and identifying suitable candidates for directors and senior management of the Company.

Mr. Wu will continue to service as an independent non-executive Director, a member of the Nomination Committee and a member of the audit committee of the Group.