The board of directors of Guoquan Food (Shanghai) Co., Ltd. announced that Mr. Xia Ni (?Mr. Xia?) has tendered his resignation as a chief financial officer of the Company with effect from 1 February 2024 due to career development. With effect from the date of Mr. Xia's resignation, he will cease to hold any position in the Company. Mr. Xia has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.