The board (the ‘Board') of directors (the ‘Director(s)') of LX Technology Group Limited announced that Ms. Zhao Jinlin (‘Ms. Zhao') has tendered her resignation as an independent non-executive Director with effect from 11 April 2023 on account of her health condition. Following her resignation, she will also cease to be the chairwoman of the remuneration committee of the Company (the ‘Remuneration Committee') and a member of each of the audit committee of the Company (the ‘Audit Committee') and the nomination committee of the Company (the ‘Nomination Committee'). The Board announced that Mr. Yao Zhengwang (‘Mr. Yao') has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee, all with effect from 11 April 2023.

Mr. Yao Zhengwang, aged 48, was appointed as an independent non-executive Director with effect from 11 April 2023, where he is primarily responsible for providing independent views in relation to the operation, investments and management of the Group. Mr. Yao has over twenty years of experiences in the investment and financial industry and the corporate governance of listed A-shares companies in the PRC. From July 1997 to May 2007, Mr. Yao successively served in various positions including office clerk, managers of the legal department, sales department and investment department, as well as a supervisor at Shenzhen New Asia Assets Development Company Limited.

From May 2007 to June 2008, Mr. Yao served as the deputy office supervisor at Sino Life Insurance Company Ltd. Since May 2007, he successively served as a supervisor, chairman of the supervisory committee, the secretary of the board of directors and is currently a director of Shenzhen China Bicycle Company (Holdings) Limited, a company listed on the Shenzhen Stock Exchange. Since August 2012, Mr. Yao served as a director of Leshan City Commercial Bank Company Ltd. and is currently a supervisor. He is currently also a supervisor of Shenzhen Guosheng Energy Investment Development Company Limited, a director of Jiaxing Zhishifang Food Technology Company Limited, a supervisor of each of Shenzhen Zhengrui Energy Technology Co.

Ltd., Shenzhen Longpeng Investment Co. Ltd. and Zhengda Energy Development (China) Co. Ltd., as well as the general manager of Jilin Fude Investment Holding Co.

Ltd. Mr. Yao obtained a bachelor's degree in laws from the Shantou University in 1997. He also obtained the certificate of secretary of the board issued by the Shenzhen Stock Exchange in November 2010 and the completion certificate of the training for senior management of listed issuers issued by the China Securities Regulatory Commission in November 2007.