The board of directors of Modern Chinese Medicine Group Company Limited announced that Mr. Li Jinglian and Mr. Jiang Zhendong have tendered their resignations as executive Director of the Company with effect from 3 November 2023 as each of them intend to engage in some business commitments which require relatively less devotion of time. For the resignation of Mr. Jiang, he has ceased to be a member of the nomination committee of the Board (the "Nomination Committee') with effect from 3 November 2023. The Board announced that Ms. Sun Xinlei has been appointed as an executive Director and the chairman of the Board and that Ms. Jia Yanru has been appointed as an executive Director and a member of the Nomination Committee.

Ms. Sun, aged 38, graduated from Dongbei University of Finance and Economics, major in Business Administration. Ms. Sun has been the general manager of Chengde Yushi Jindan Pharmaceutical Co., Ltd. for over 3 years and is the sole registered shareholder of Chengde Yushi. As disclosed in the announcement of the Company dated 14 June 2023, the Group conducts its business of production of proprietary Chinese medicine, which involves the application of processing techniques for traditional Chinese medicine decoction pieces such as steaming, frying, simmering and calcining through Chengde Yushi under a series of contractual arrangements entered into by Shijiazhuang Medical Research Advisory Company Limited (), a wholly-owned subsidiary of the Company.

Prior to entering the pharmaceutical industry, Mrs. Sun was the business manager of Heilongjiang Jiangtian Hotel. Ms Jia, aged 40, graduated from the Northeast Normal University, the Mainland China with a Higher Education Graduation Certificate. Ms. Jia was appointed as a joint company secretary of the Company on 30 August 2023 and deputy general manager (finance) of the Company ("Deputy GM") in August 2021.

She is responsible for the management of financial, supervisory and compliance as well as investor relation matters and possesses experience in financial management in pharmaceutical industry for more than 20 years. Ms Jia joined the Group in 2004 and prior to being promoted as Deputy GM, Ms Jia was a finance manager of the Group. Following the resignation of Mr. Jiang, he ceased to be a member of the Nomination Committee with effect from 3 November 2023 and Ms. Jia has been appointed as a member of the Nomination Committee.