Gudou Holdings Limited announced that Mr. Ruan Yongxi has resigned as a non-executive Director, with effect from 30 June 2022, due to his own business engagement which requires more of his attention and dedication. Mr. Ruan confirmed that he has no disagreement with the Board, the Company and/or the Group, and there is no other matter in respect of his resignations that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board further announces that Mr. Tam Man Chiu ("Mr. Tam") has been appointed as a non-executive director of the Company with effect from 30 June 2022.

Mr. Tam, age 59, is currently an executive director of Guangdong Quanlin Tourism Development Company Limited ("Guangdong Quanlin"). He joined Guangdong Quanlin in March 2010, and was responsible for operation management and is experienced in the tourism industry in the People's Republic of China. Mr. Tam had been a member of the standing committee of Jiangmen Committee of the Chinese People's Political Consultative Conference since 2012, and had been the chairman of Wuyi Association of Hong Kong since 2016.

Mr. Tam graduated from the Jiangmen Tangxia Middle School in 1982. Mr. Tam is the father of Mr. Tam Ka Wai, who is the sole shareholder and director of each of Sky Success Ventures Limited and New Ray Developments Limited, each holding 145,000,000 shares of the Company (each representing approximately 14.59% of the issued share capital of the Company) and each being a substantial shareholder of the Company. On 30 June 2022, Mr. Tam entered into a letter of appointment with the Company for a term of three years and his appointment may be terminated by either Mr. Tam or the Company by giving not less than three months' prior notice in writing.

Mr. Tam shall hold office until the next annual general meeting of the Company, where he shall be eligible for re-election in accordance with the Company's articles of association, and thereafter subject to retirement by rotation at least once every three years and will be eligible for re-election at the Company's annual general meetings in accordance with the Company's articles of association. Mr. Tam is entitled to a director's fee of HKD 60,000 per annum pursuant to the letter of appointment. Mr. Tam's remuneration package is generally structured by reference to market terms. The director's fee for Mr. Tam has been approved by the Board and the remuneration committee of the Company and will be reviewed by the Board and the remuneration committee of the Company on an annual basis.