Shineco, Inc. announced the board of directors and officer changes effective on March 25, 2022. Effective on March 25, 2022, for personal reasons, Mr. Yuying Zhang resigned from his position as Chairman and a member of the Board. The Company's Board has appointed current Board member Mr. Mike Zhao as the Chairman of the Board, replacing Mr. Zhang.

Additionally, the Board appointed Mr. Xiqiao Liu to the Board to fill the vacancy created by Mr. Zhang's resignation. Mr. Liu has also been appointed to serve as the Company's Chief Operating Officer. Mr. Mike Zhao has served as a member of the Company's Board since July 2021.

Since April 2018, Mr. Zhao has served as the Director of New York Hua Yang, Inc., a leading real estate company in New York. From July 2016 to March 2018, Mr. Zhao served as the Chief Executive Officer of TD Holdings, Inc. (Formerly known as China Commercial Credit Inc.). From September 2011 to July 2016, Mr. Zhao was appointed as the Chief Operating Officer and a Director of New York Hua Yang, Inc.Mr. Zhao has more the 20 years of management experience in diverse corporations and financial service institutions, with a proven record of productivity, quality and integrity.

Mr. Xiqiao Liu has over 10 years of experience in investment and asset management. Since July 2017, Mr. Liu has been serving as the Deputy Director of the Board Office where his responsibilities include overseeing the financing activities of the Company. From July 2015 to May 2017, Mr. Liu worked as a fund manager at Shanghai Shunjia Industry Co.

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