The board (the "Board") of directors of Ronshine Service Holdings Co. Ltd. announced that Mr. Ou Zonghong has resigned as executive Director, chairman of the Board, member of the remuneration committee of the Company, and chairman of the nomination committee of the Company, all with effect from 12 September 2023 in order to focus on his other business engagements. Ms. Lin Liqiong has also resigned as non-executive Director with effect from 12 September 2023 in order to devote more time to her personal and other business commitments.

The Board announced that with effect from 12 September 2023, Mr. Ou Guofei, has been appointed as executive Director, chairman of the Board, member of the Remuneration Committee, and chairman of the Nomination Committee. Mr. Ou GF is the son of Mr. Ou. Mr. Ou GF, aged 30, has successively assumed various roles, including as the general manager of the capital center and the general manager of the marketing management center of Ronshine China Holdings Limited since July 2015.

He is currently the group assistant president of Ronshine China and president of the Shanghai-Jiangsu regional company, and he has bachelor's degree in economics. He has extensive experience in real estate investment, development and business operation management. Mr. Ou GF has entered into a service contract with the Company for a fixed term of three years commencing from 12 September 2023.

He will be entitled to a director's fee of HKD 500,000 per annum. Mr. Ou GF's appointment is recommended by the Nomination Committee and his remuneration is determined by the Board on the recommendation of the Remuneration Committee, with reference to his duties and responsibilities as well as the prevailing market conditions. He is also entitled to the reimbursement of all reasonable out- of-pocket expenses incurred in relation to the discharge of his duties in connection with the business of the Company.

Mr. Ou GF will hold office until the next annual general meeting of the Company and is subject to retirement by rotation and re-election at annual general meetings of the Company at least once every three years in accordance with the articles of association of the Company.