The board of directors (the " Board ") of Lianhua Supermarket Holdings Co., Ltd. (the "Company") announced that, according to the regulations on part-time employment of leaders of state-owned enterprises, Mr. Shi Xiao-long ("Mr. Shi") has tendered his resignation on 7 February 2024 as the vice chairman of the Board, a non-executive director, the member of the remuneration and appraisal committee and the member of the strategic committee of the Company. The above resignation of Mr. Shi became effective at the time when the appointment of the new director was approved at the Meeting (as defined below) on 7 February 2024. Mr. Shi has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that need to be brought to the attention of the shareholders of the Company.

The Board announced that Ms. Zhang Hui-qin ("Ms. Zhang") (Note) has been appointed as the vice chairman of the Board, an executive director, the member of the remuneration and appraisal committee and the member of the strategic committee of the Company for a term commencing from 7 February 2024 until the conclusion of the annual general meeting of the Company to be held in 2024. Ms. Zhang Hui-qin, aged 50, held a degree of master of science in Quality Management of the Hong Kong Polytechnic University and a postgraduate degree, and is a professorate senior economist. Ms. Zhang has abundant operation and management experience in the retail commercial field.

From August 1996 to June 2003, Ms. Zhang successively worked with Jiayou Supermarkets of Hangzhou Department Stores Company as deputy superintendent of operation department, deputy store manager of Wensan Store, chief of Qingchun Store and assistant to the manager of operation department. From June 2003 till now, Ms. Zhang worked with Hangzhou Lianhua Huashang Group Co., Ltd. as deputy manager of operation department, manager of operation department, assistant to the general manager, deputy general manager, executive deputy general manager, general manager, secretary of the Party Committee, vice chairman and chairman. From May 2016 to April 2021, Ms. Zhang had been deputy general manager of the Company, and served as executive deputy general manager of the Company since April 2021.