Jiu Rong Holdings Limited announced that Mr. Zhao Jianhua has tendered his resignation as Executive Director and the Authorised Representative of the Company with effect from 20 May 2023 due to devotion to his personal business development. Mr. Zhao has confirmed that he has no disagreement with the Board and there is no circumstance connected with his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the holders of securities of the Company. Mr. Chen Yunxiang will be appointed as Executive Director and the Authorised Representative of the Company with effect from 20 May 2023.

Mr. Chen, aged 51, graduated from the College of Adult Education, Zhejiang University with a degree in office automation and business computer. Mr. Chen has substantial experience in electronics industry and has a deep understanding of sales, marketing, network, conferences and exhibitions and the development of consumer electronics. Mr. Chen is the General Manager of the Smart Community Division of SOYEA Technology Co.

Ltd. since April 2015. Save as disclosed above, Mr. Chen does not hold any position with the Company and its subsidiaries and does not hold any other major appointments or possess other major professional qualifications and has not held any position or directorships in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas during the last three years preceding the date of this announcement. Ms. Chen Shan ("Ms. Chen") will be appointed as Executive Director of the Company with effect from 20 May 2023.

Ms. Chen, aged 40, graduated from the Zhejiang University of Finance and Economics with a diploma in accounting. Ms. Chen has substantial experience in accounting and finance. Ms. Chen is assistant to director of finance department of SOYEA Technology since May 2015 and promoted to deputy director of finance department since December 2021.

Save as disclosed above, Ms. Chen does not hold any position with the Company and its subsidiaries and does not hold any other major appointments or possess other major professional qualifications and has not held any position or directorships in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas during the last three years preceding the date of this announcement.