The board of directors of Kingkey Intelligence Culture Holdings Limited announced that with effect from 1 September 2023, Mr. Chen Jiajun (Mr. Chen) has been appointed as an executive director and chairman of the company. Mr. Chen, aged 31, has extensive investment experience and currently has a wide variety of investments in different industry sectors. Mr. Chen holds a master's degree in Science of Finance from the University of Southern California (USC).

Before joining the Group, Mr. Chen served as a vice-president of Shenzhen Kingkey Banner Commercial Management Ltd. from May 2015 to May 2018 and president from May 2018 to January 2019. Mr. Chen currently also serves as a director of USC South China Alumni Club. From 23 June 2020 to 27 October 2022, Mr. Chen was appointed as a non-independent director of Shenzhen Kingkey Smart Agriculture Times Co.

Ltd. He has been appointed as an executive director of Kingkey Financial International (Holdings) Limited since 28 August 2020. The board also announced that with effect from 1 September 2023, Mr. Willliam Keith Jacobsen (Mr. Jacobsen) tendered his resignation as an independent non-executive director as he wishes to devote more time to his other commitments. Mr. Chan Chiu Hung, Alex, an independent non-executive director, has been appointed as the chairman of remuneration committee of the company with effect from 1 September 2023 in place of Mr. Jacobsen.

Save as disclosed in the Announcement, Mr. Chen has also been appointed as an executive director of Coolpad Group Limited, the shares of which are listed on the Main Board of the Stock Exchange (stock code: 2369.HK), since 17 January 2019.