The board of directors of Hao Bai International (Cayman) Limited announced that: Mr. Jiang Jianguo has been appointed as an executive Director of the Company with effect from 4 April 2023; and Mr. Lin Hann Ruey has tendered his resignation as an executive Director of the company with effect from 4 April 20 23.23. Mr. Jiang Jianguo (Jiang Jian Guo) has been appointed as an executive director of the Company with effect from four April 2023. Mr. Jiang, aged 53, joined the Company as a Managing Director in March 2023 and has close to 30 years of investment and business management in the agricultural sector in Mainland China.

Mr. Jiang founded Dong An Xian Xia Qi Zhong Yang Nong Min Zhuan Ye He Zuo She with registered capital of RMB 18.50 million in 2012 and An Xia Qi Nong Ye Ke Ji Fa Zhan You Xian Gong Si with registered capital of RMB 30.28 million in 2014. Mr. Jiang is currently responsible for overseeing the Company's Investment team in Mainland China. Mr., Jiang has entered into a service agreement (the "Service Agreement") with the Company and his appointment is subject to retirement and re-election in accordance with the Articles of Association of the Company.

Mr. Jiang is entitled to a director's fee of HKD 10,000 per month which was determined by the Board based on the recommendations of the remuneration committee of the Company, with reference to his duties and responsibilities with the Company and the prevailing market rate for his position as an executive director.