The board of directors of Orient Victory Smart Urban Services Holding Limited announced that (i) Mr. Shi Baodong has notified the Board that he will retire as the chairman of the Board, an executive Director of the Company due to his health reason. However he will act as a consultant of the Group following his retirement; (ii) Mr. Zhao Huining has notified the Board that he will retire as an executive Director such that he could focus on his other business; and (iii) Mr. Dong Xiaojie has notified the Board that he will retire as an independent non-executive Director such that he could focus on his other business, all with effect from the conclusion of the annual general meeting of the Company to be held in June 2024. Further details of the Retirements will be disclosed in the circular in relation to the AGM.

Besides, for the purpose of Rules 3.10 and 3.25 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Company will appoint an independent non-executive Director and the chairman of the remuneration committee of the Company respectively at the AGM to fill the casual vacancy. Following the Retirements, Mr. Shi will cease to be the chairman of the nomination committee of the Company and a member of the Remuneration Committee and Mr. Dong will cease to be the chairman of the Remuneration Committee, all with effect from the Effective Date. The Board will appoint appropriate director(s) to fill the casual vacancies and will publish further announcement in accordance with the Listing Rules.