Suoxinda Holdings Limited announced the following changes in the composition of the Board and the composition of the audit committee, the nomination committee and the remuneration committee of the Board. The Board announced that, with effect from 18 July 2023: Ms. Zhao Yue has resigned as a non-executive Director in order to devote more time to her other personal engagements; and Dr. Chen Wei has resigned as an independent non-executive Director in order to devote more time to her other personal engagements. The Board further announced that, due to the redesignation of duties in the Group, with effect from 18 July 2023: Dr. Wu Fu-Shea has resigned as the chairman of the Board and he remains to act as a non-executive Director; and Mr. Shi Banchao has resigned as the chief executive officer of the Company and he remains to act as an executive Director.

The Board announce that, with effect from 18 July 2023: Mr. Xue Shouguang has been appointed as an executive Director, the Chairman; Ms. Zhao Yiqing has been appointed as an executive Director; and Mr. Fei Xiang has been appointed as an independent non-executive Director. Mr. Xue Shouguang, aged 52, obtained a certificate of completion of the Training Class for chairman of Leading Enterprises and Groups from the Graduate School at Shenzhen, Tsinghua University in October 2014, and a certificate of senior management education from Cheung Kong Graduate School of Business in March 2018, majoring in executive management. Mr. Xue is experienced in investing in industries such as artificial intelligence, mining and energy, automobile, new materials and hardcore technology.

He had assisted a number of listed companies with their capital and resource injection. Prior to joining the Group, he founded the Jinjiang City Qingyang Qingshan Coffee Shop in 2004 and subsequently developed it into Qingshan Coffee chain enterprise, and has been the chairman of Polish Green Holdings Limited since January 2008. Mr. Xue is an Economic Person of China Enterprise for the year 2020 and currently serves as the standing vice chairman of the Entrepreneurs' Club of the Chinese Entrepreneur Commerce Club and the honorary chairman of the Beijing Fuzhou Enterprise Chamber of Commerce.

Ms. Zhao Yiqing, aged 31, received her Master of Business Administration degree from University of Derby, the United Kingdom in September 2016 and is currently enrolled in the doctoral course of the Science and Technology Management Scholars Programme co-organised by Southern University of Science and Technology and Hong Kong Polytechnic University. Ms. Zhao served as a director and a supervisor of Shanghai Ruihua Wealth Asset Management Co. Ltd. partner and deputy, general manager of Houyi Alumni Education Fund vice, president of strategic investment department of Jiayin Group Inc., chairman of Hainan Jiaxin Investment Company Limited and established and served as a director and the general manager of Sichuan, Development Industrial Investment Service Company Limited.

Ms. Zhao is an experienced investor and has assisted several listed companies in financing, business expansion and industrial implementation. She served positions including the deputy secretary general of Peking University Post-EMBA Business School Alumni Association EMBA the vice president of, Big Data Industry Association in Shenzhen and the vice chairman of Federation of Shenzhen Commerce. Mr. Fei Xiang, aged 43, obtained a Master of Business Administration for Senior Management degree from Nanjing University of Science and Technology in July 2013 and has been pursuing a doctorate degree in management science and engineering at Nanjing University of Science and Technology since September 2014, majoring in management science and engineering.

Mr. Fei obtained the qualification certificate of senior economist in October 2013 from the Department of Human Resources and Social Security of Jiangsu Province. Prior to joining the Group, Mr. Fei, had successively engaged in teaching or administrative work at Suzhou Light Industry Vocational University Suzhou Art & Design Technology Institute, and Taizhou Institute of Sci.&Tech., Nanjing University of Science and Technology from September 1999 to September 2014. He had served as the deputy director of Jingjiang National Economic Development Zone the standing vice president of Industrial Technology, and the vice chairman Research Institute of Jingjiang City, of Taizhou Association for Science and Technology during the period from September 2014 to August 2016; he served as the deputy general manager of Guotai Jinfeng Equity Investment Fund Management (Shanghai) Co.

Ltd. from September 2016 to December 2018; served at the Nanjing branch and the Zhenjiang branch of Ping An Bank Co. Ltd. from March 2019 to January 2021 with his last position serving as the branch vice president; has been an executive director and the general manager of Jiangsu Yingyuhe Corporate Management Consultancy Co. Ltd. since March 2022; and has been an executive director of Huiyin Capital (Jiangsu) Co.

Ltd. since May 2023. The Board further announces that, due to the redesignation of duties in the Group, with effect from 18 July 2023, Mr. Wu Xiaohua ("Mr. Wu") has been re-designated from an executive Director to a non-executive Director. Mr. Wu Xiaohua, aged 49, was responsible for the management of business and operation of the Group prior to his redesignation.

He joined the Group in May 2006 as the general manager and was appointed as a director, the chief financial officer and the deputy general manager of the Group in December 2015. He was appointed as an executive Director on 6 December 2018. He has also been the chief executive officer of the Company until 26 March 2020.

He obtained a bachelor's degree in production automation from Shenzhen University in June 1995. Mr. Wu has over 14 years of experience in business management. Prior to joining the Group, he served as a technical engineer of Shenzhen Hongbo Communication Investment Development Company (now known as Guangdong Hongbo Communication Investment Holding Co.

Ltd. from July 1995 to February 1998; and sales in its trade department from February 1998 to January 2000. From January 2000 to May 2006, he worked at Shenzhen Post and Material Company Limited with his last position serving as a sales manager.