The board of directors of Newlink Technology Inc. hereby announced that Ms. Qiao Huimin has tendered her resignation as the executive Director and chief financial officer of the Company due to personal commitment which requires more of her attention and dedication with effect from September 5, 2022. Ms. Qiao Huimin has confirmed to the Board that she has no disagreement with the Board and there is no other matter which needs to be brought to the attention of the shareholders of the Company in relation to her resignation. The Board also hereby announced that Mr. Zhai Guanhua will assume the role as acting chief financial officer of the Company with effect from September 5, 2022.

Mr. Zhai Guanhua, aged 30, has extensive experience in financial management, financial analysis, investment and financing decisions, corporate operations and corporate governance. Mr. Zhai Guanhua has been the executive director and the general manager of Beijing Fullhouse Investment Management Co. Ltd. since July 2018.

Prior to that, Mr. Zhai Guanhua served as a financial advisor at Morgan Stanley (San Francisco) from July 2016 to March 2018 and the executive director and the general manager of Beijing Fuhuajiaxin Business Incubator Co. Ltd. from July 2021 to August 2022. Mr. Zhai Guanhua obtained a bachelor's degree in finance from Syracuse University in 2014 and a master's degree in HRMD from New York University in 2016 respectively, and has been studying at Tsinghua University since September 2021, majoring in Master of Business Administration in Finance.

He is the son of Mr. Zhai Shuchun, the chairman of the Board and chief executive officer of the Company.