The Board of Reach New Holdings Limited announced that on 28 November 2023 Mr. Lam Kai Yuen has stepped down as the chief executive officer of the Company (the Chief Executive Officer) with immediate effect, while remaining his present role as an executive Director. The Board announced that, with effect from 28 November 2023, Mr. Li Rongsheng was appointed as an executive Director and the Chief Executive Officer. Mr. Li, aged 35, was awarded a bachelor's degree in arts from Nankai University, the People's Republic of China in 2011, and starting from September 2023, Mr. Li has been pursuing the master degree in Business Administration in Hong Kong Metropolitan University.

Mr. Li had 12 years of experience working in the property development industry. From May 2011 to May 2013, Mr. Li worked at Shenzhen Tianxia Real Estate Development Co. Ltd. in the PRC as a purchasing engineer.

From May 2013 to July 2022, Mr. Li was the senior management of Shenzhen Qiuming Investment Development Co. Ltd. in the PRC. From August 2018 to May 2023, Mr. Li was the deputy general manager of Shenzhen Nanxian Technology Co.

Ltd. in the PRC.