Shanghai Bio-heart Biological Technology Co., Ltd. at its Annual General Meeting held on June 26, 2023, approved the appointment of Mr. Wing Yiu DJEN as an independent non-executive director of the second session of the Board of Directors. Mr. Ji Chen, Mr. Quan Zhou and Mr. George Chien Cheng Lin had decided not to offer themselves for re-election at the AGM due to other personal pursuits and retired from office upon conclusion of the AGM. Mr. Ji Chen, Mr. Quan Zhou and Mr. Lin have confirmed that they have no disagreement with the Board and there are no other matters related to their retirements that need to be brought to the attention of the Shareholders or the Stock Exchange.

The Board would like to express its sincere gratitude to Mr. Ji Chen, Mr. Quan Zhou and Mr. Lin for their valuable contributions to the Board and the Company during their tenures of service. The Company announced that Mr. Wing Yiu Djen was appointed as independent non-executive Director with effect from June 26, 2023. He will hold office until the end of the second session of the Board.

Following the retirement of Mr. Lin, and the appointment of Mr. Djen, the composition of the Audit Committee and the Remuneration Committee shall be changed as follow with effect from the conclusion of the AGM: Audit Committee: Mr. Lin shall cease to be a member and Mr. Djen shall become a member in place of Mr. Lin; and Remuneration Committee: Mr. Lin shall cease to be a member and Mr. Djen shall become a member in place of Mr. Lin. The Board announced that, with effect from June 26, 2023, Mr. Charles Sheung Wai Chan, an independent non-executive Director, has been appointed as the chairman of the Audit Committee, and Mr. Xubo Lu, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee.