Shandong Chenming Paper Holdings Limited announced that the Board received the resignation report submitted by Mr. Chen Hongguo, the chairman and general manager of the Company. In order to better perform duties as the chairman and devote more energy to the strategic planning, development innovation and standardized governance of the Company, and strengthen the construction of the Board of the Company, Mr. Chen resigned from his position as the general manager of the Company. The resignation is effective from the date of delivery of the resignation report to the Board.

Upon his resignation as the general manager of the Company, Mr. Chen will still continue to hold positions as the chairman of the Company and in the committees of the Board to perform his corresponding duties. The Board announced that on 8 October 2023, the twelfth extraordinary meeting of the tenth session of the Board of the Company was held to consider and approve the Resolution on the Change of General Manager. In order to ensure that the operation and management of the Company are carried out in an orderly manner, according to the relevant requirements of the Company Law and the Articles of Association, Mr. Chen, the chairman, nominated Mr. Li Weixian ("Mr. Li"), an executive Director and deputy general manager of the Company, to be the general manager of the Company.

As reviewed by the Nomination Committee of the Board, Mr. Li is qualified for serving as the general manager of the Company, possesses the professional knowledge, work experience, decision-making and coordination abilities required for discharging his powers, and is competent for the position appointed. The Board approves to appoint Mr. Li as the general manager of the Company, with his term of office commencing from the date of approval of the Board until the expiration of the tenth session of the Board. It is also proposed to authorise relevant personnel of the Company to handle the industrial and commercial registration.

Mr. Li Weixian, aged 41, graduated with a postgraduate degree. He joined the Company in 2002 and served as the deputy manager of a sales company of the Company, manager of a sales company, general manager of Jiangsu district of a sales company, chairman of a household paper company, product general manager, deputy marketing director and marketing director of a sales company, the rotating general manager and chairman of the financial division of a group. He is currently an executive Director and deputy general manager of the Company.