The board of directors of Minth Group Limited announced the appointment of Mr. Ye Guo Qiang was approved by the shareholders of the Company at the annual general meeting of the Company held on May 31, 2022. Mr. Chen Bin Bo has confirmed his retirement as an executive Director of the Company with effect from the date of the AGM as he has decided to spend more time with his family. Mr. Chen remains as a consultant to the Group for one year and has entered into a consultancy contract with the Group pursuant to which he will not receive any remuneration but will be reimbursed for reasonable expenses incurred by him as a consultant in attending to matters of the Group.

The Board further announces the appointment of Mr. Ye as an executive Director of the Company with effect from May 31, 2022. Mr. Ye Guo Qiang, aged 42, is the Global R&D Vice President of the Company. Mr. Ye graduated from Hangzhou Dianzi University, majoring in mechanical electronics.

Prior to joining the Company in January 2005, he was a technical engineer of Ningbo Bluelight Industry Co. Ltd. Since joining the Company, Mr. Ye has worked successively as the laboratory chief of R&D center, general manager of the innovation research center and Global Innovation Vice President of the Company. He has accumulated extensive experience in the field of R&D and innovation of the Company.

Pursuant to the service contract entered into between Mr. Ye and the Company, Mr. Ye will hold office commencing from the AGM to the date of the Company's annual general meeting to be held in 2025 or 31 May 2025, whichever is earlier. Mr. Ye will be entitled to a remuneration of RMB 1,014,973 per annum which is determined by the Board with reference to Mr. Ye's duties and responsibilities with the Company and the prevailing market conditions. As at the date hereof, save for his interest in 360,000 share options in the Company, Mr. Ye had no interests in the shares of the Company within the meaning of Part XV of the SFO.

Save as disclosed herein, Mr. Ye is independent from and not related to any other Directors, senior management, substantial shareholders or controlling shareholders of the Company. Mr. Ye has not held any directorship in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years.