The Board of King International Investment Limited announced that Mr. Wang Mengyao ("Mr. Wang") has been appointed as the co chairman of the Board of the Company (the "Co Chairman") with effect from 28 December 2023. Mr. Wang, aged 26, is the executive director of the Company. He was the vice president of Jiangsu Jinyan Fund Management Co.

Ltd. from January 2020 to March 2022. Mr. Wang has acted as and is currently the general manager of Jiangsu Zhuoding Medical Technology Co. Ltd. since April 2022, and is responsible for all operations and management matters of such company.

He is currently pursuing a business administration degree at Myongji University in South Korea. Mr. Wang is experienced in business operations and management, has in-depth knowledge about finance and medical technology industries who will be able to provide unique insights regarding business operations and management to the Board. The Board announced that Mr. Liu Mingqing ("Mr. Liu") has been redesignated as the Co Chairman with effect from 28 December 2023.

Mr. Liu, aged 44, is the executive Director and chief executive officer of the Company. He obtained a Master degree in Economics from Tongji University in the People's Republic of China (the "PRC") in 2005. Mr. Liu has been serving as an executive director of Kiu Hung International Holdings Limited since 27 March 2020.

Mr. Liu has over 15 years of experience in financial and investment related business and considerable experience in securities and futures, corporate finance, derivative products and other various financial services. The Board announced that Mr. Lu Xingwu ("Mr. Lu") has been appointed as the executive Director of the Company with effect from 28 December 2023. Mr. Lu, aged 62, obtained a bachelor degree in Chinese from Yangzhou University in the PRC.

Mr. Lu currently is the president of Hainan Xingyun Zhiguang Food Technology Limited, and is responsible for the marketing of the brand of "Diwangchi" liquor. He currently is the Chairman of Lu Xingwu Liquor Hall Brand Management Co. Ltd., dean of Lu Xingwu Practitioner Business School, executive vice president and secretary-general of the Liquor Committee of the Chinese Poetry and Liquor Culture Association, and senior researcher of Yunjiu China Liquor Brand Research Institute.

Mr. Lu is a legendary wine merchant in the Chinese wine industry and a master of practical marketing of Chinese liquor. He has devoted himself to the practice and research of liquor marketing for more than 20 years and completed the creation and application of the theories of "360º Liquor Marketing" and "Dealer Profit Model Innovation".