The board of directors of Guoen Holdings Limited announced that Mr. David Tsoi (Mr. Tsoi) has resigned as an independent non- executive Director; the chairman of the audit committee of the Company; the chairman of the nomination committee of the company and a member of the remuneration committee of the Company with effect from 8 August 2023 due to his wish to devote more time to pursue his other business commitments. Mr. Tsoi confirmed to the Board that there is no disagreement between him and the Board and there is no matter relating to his resignation that needs to be brought to the attention of the Stock Exchange and the shareholders of the Company. Following the resignation of Mr. Tsoi, the Board announced that: Ms. Fu Hongzhi ("Ms. Fu") has been appointed as an independent non-executive Director; the chairman of each of the Audit Committee and the Nomination Committee and a member of the Remuneration Committee with effect from 8 August 2023.

Ms. Fu, aged 56, graduated from Zhongnan University of Economics and Law, majoring in finance and accounting. She has more than 20 years of experience in financial management. She is a member of the Chinese Institute of Certified Public Accountants since 2020.

Ms. Fu worked in Beijing Broadcasting Equipment Factory from 1989 to 1998 as the leader of the analysis team. She served as the deputy director of the Finance Department of BOCO Group Holding Limited and its group from 1998 to 2017, responsible for financial planning, accounting processing, and financial budgeting. From 2017 to 2019, Ms. Fu Hongzhi served as the financial director of Beijing Huiyan Zhixing Technology Company Limited, and was fully responsible for formulating the company's financial goals and policies, establishing and improving the company's financial system and internal financial management, and reviewing financial statements.