The Board of Reach New Holdings Limited 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.

The Board also announced that on 28 November 2023, Mr. Moy Yee Wo, Matthew resigned as an independent non-executive Director of the Company, and ceased to be the chairman of the nomination committee of the Board (the Nomination Committee), member of the audit committee of the Board (the Audit Committee) and member of the remuneration committee of the Board (the Remuneration Committee) with immediate effect. The resignation of Mr. Moy was due to his other personal and business commitments. The Board announced that on 28 November 2023, Mr. Ho Yuk Hay resigned as an independent non-executive Director of the Company, and ceased to be the chairman of the Audit Committee, member of the Nomination Committee and member of the Remuneration Committee with immediate effect.

The resignation of Mr. Ho was due to his other personal and business commitments. The Board announced that, with effect from 28 November 2023, Mr. Liu Mingxiao was appointed as an independent non-executive Director, chairman of the Audit Committee, member of the Remuneration Committee and member of the Nomination Committee. Mr. Liu, aged 54, was awarded a bachelor's degree in economic management from Party School of Heilongjiang Provincial Committee of the Communist Party of China the PRC in 1997, and in 2007, Mr. Liu further obtained the title of Qualification Certificate of Speciality and Technology in Accounting (Intermediate) conferred by the Ministry of Finance of the PRC.

Mr. Liu had 22 years of experience working in the finance area of various companies. From June 2001 to September 2009, Mr. Liu worked at Puyang Shennong Seed Co. Ltd. in the PRC as an accountant; and from October 2009 to August 2016, Mr. Liu was the finance manager of Shenzhen Kunyuan Motor Vehicle Driver Training Co.

Ltd. in the PRC; and from September 2016 to June 2019, he was the finance manager of Zhonghe Biological Seed Industry Group Co. Ltd. in the PRC. From July 2019 to July 2021, Mr. Liu was the finance manager of ISP Global Limited and he is currently the finance manager of Zhonghe Biological Seed Industry Group Co.

Ltd. in the PRC from August 2021. Following the cessation of Mr. Moy as the chairman of the Nomination Committee, a member of the Audit Committee and a member of the Remuneration Committee, the Board announced that Mr. Zhu Honghai (Mr. Zhu), an independent non-executive Director, was appointed as the chairman of the Nomination Committee, a member of the Audit Committee and a member of the Remuneration Committee with immediate effect.