The board of directors of Shanghai Industrial Holdings Limited announced the following changes: The Board received a resignation letter from Mr. Zhou Jun on 18 November 2023. Due to his personal matters, Mr. Zhou Jun is unable to devote sufficient time to perform his duties in the Company. As such, Mr. Zhou Jun has resigned as an Executive Director and Vice Chairman of the Company, and a member of the Executive Committee, Authorized Representative of the Company and the positions of all the Company's member companies, all with effect from 18 November 2023.

Upon his resignation, Mr. Zhou Jun will no longer hold any positions in the Company and all its members companies. Mr. Zhou Jun has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Company has sound governance and management structures as well as solid internal control mechanism.

As such, the above resignation has no material impact on the daily operations of the Company.