The board of directors of Maike Tube Industry Holdings Limited announced that Mr. Guo Lei has resigned as the chief executive officer of the Company with effect from 1 August 2023 due to his intention to devote more time to his own business. Mr. Guo will remain as the executive Director and the chairman of the Board. The Board announced that with effect from 1 August 2023, Mr. Zhou Zhi Wei ("Mr. Zhou") has been appointed as the CEO of the Company (the "Appointment") for an initial term of three years.

Pursuant to code provision C.2.1 of the Corporate Governance Code as set out in Appendix 14 to the Rules Governing the Listing of Securities (the "Listing Rules"), the roles of the chairman of the Board and the CEO should be separate and should not be performed by the same individual. Upon the Appointment, the Company will have separate individuals performing as the chairman of the Board and the CEO. As such, the Board considers the Appointment would help to ensure a balance of power and authority for the management of the Company.

Mr. Zhou, aged 44, has been appointed as the CEO with effect from 1 August 2023. Prior to joining the Group, he worked as the dean of Meide College at Meide Group Limited from April 2022 to July 2023. He served in Double Star Group Co.

Ltd. and Qingdao Double Star Co. Ltd. respectively as the secretary of the party, general manager and manager of large project office from April 2019 to March 2022 and as deputy general manager of PCR division from February 2019 to April 2019. He served as the general manager in Qingdao Kaishi Rubber Track Co.

Ltd. from January 2015 to December 2018. During the period from September 2016 to December 2018, he also served as the secretary of the party branch and general manager of Qingdao Kaishi Sealing Industry Co. Ltd. He served as the general manager in Qingdao Tianfa Lighting Technology Co.

Ltd. from August 2011 to May 2014. He worked as the project manager in Qingdao Household Appliance Technology Equipment Research Institute from October 2005 to July 2007. He served as the head of quality control department in Haier Group Corporation from August 2001 to October 2005 and also worked at other associated companies of Haier Group Corporation as the general manager from July 2007 to May 2010.

Mr. Zhou graduated from Tianjing University in Chemical Equipment and Machinery in June 2001.