The board of directors of the Pan Asia Environmental Protection Group Limited announced that Mr. Guo Jiannan has resigned as chief executive officer of the Company with effect from 12 April 2024 due to his intention to focus on his duties and responsibilities as the chairman of the Board and executive director of the Company. Mr. Guo will remain as the Chairman and Executive Director. The Board announced that Mr. Zhu Duke Li, being one of the Joint Venture Partners, will join the Company as Executive Director and Chief Executive Officer with effect from 12 April 2024.

Mr. Zhu, aged 61, entered the blockchain industry in 2017 and has built a number of Bitcoin, Filcoin and AI supercomputing centres in Oregon, USA. He is co-founder and chief executive officer of West Crypto International Corporation and Plentiful Data LLC. Prior to that, Mr. Zhu served as chairman of Jagex, the largest online game company in the United Kingdom, and worked for MacArthur Capital Holding USA LLC and MacArthur Fortune Holding LLC as partner and chief executive officer.

Mr. Zhu has established a good cooperative relationship with major international investment banks. The Group believes that under the leadership of Mr. Zhu, in response to the call of the Hong Kong Government as a Web 3.0 financial centre, the Group will enter into a new era, emerging in the distributed storage and AI computing industries, and generating substantial returns for shareholders.