Loco Hong Kong Holdings Limited announced that Mr. Zhang Siyuan ("Mr. Zhang") has been appointed as an executive Director with effect from 21 June 2023. Mr. Zhang, aged 36, has been appointed as an executive Director and Chairman of the Board with effect from 21 June 2023. Prior to joining the Group, Mr. Zhang was the general manager of MDH GmbH from 2016 to 2020 and was engaging in Sino-German trade import and export business specializing in metal products, precious metals such as gold, silver and platinum products.

In 2020, Mr. Zhang founded Shanghai Chenyisan Information Technology Co. Ltd. "Shanghai Chenyisan"), a company which is principally engaged in the sales of gold, silver and other precious metal products and jewellery. Shanghai Chenyisan is also the distributor of various brands from Canada and the United States, etc.

and provides a wide range of high-quality products through online sales platforms and third party e-commerce platform flagship stores. Since 2020, Mr. Zhang has been the chairman of Nantong Canda Supply Chain Management Co. Ltd., company which is principally engaged in the cross-border import business of gold, silver and other precious metal products and jewellery and has extensive experience in customs declaration and logistics capabilities in commodity trading, such as iron ore, iron concentrate powder, electrolytic copper, aluminium ingots, chips and integrated circuits.

In 2021, Mr. Zhang founded Fias (Hong Kong) Co., Limited in Hong Kong, a company which specializes in the trading and processing of bulk commodities such as iron ore and electrolytic copper and is committed to developing a cleaner and more environmentally friendly metal recycling and processing business in Southeast Asia. Since 2022, Mr. Zhang serves as the limited partner of L Catterton Private Equity Fund Management Company, a member of LVMH. In 2023, Mr. Zhang founded Shanghai Dandelion Logistics Development Co.

Ltd. Shanghai, a company servicing various metal product traders and in brand owners in their import and export business in China, Germany and Europe. Mr. Zhang graduated from The University of Telecommunications Leipzig, Germany, with a bachelor's degree in telecommunications engineering in 2011. The Board further announces that with effect from 21 June 2023, Mr. Wang Wendong ("Mr. Wang") has resigned as the Chairman of the Board and remains as the Chief Executive Officer and executive Director of the Company; and Mr. Zhang has been appointed as the Chairman of the Board.

Following the above changes, the Board further announces that, with effect from 21 June 2023: Mr. Wang has resigned as the chairman of the Company's nomination committee and executive committee; and Mr. Zhang has been appointed as the chairman of the Nomination Committee and the Executive Committee.