The board of directors of Shinsun Holdings (Group) Co., Ltd. announced that Mr. Wang Guozhen has been appointed as an independent non-executive Director, chairman of the remuneration committee of the Board (the "Remuneration Committee"), member of the audit committee of the Board, and member of the nomination committee of the Board, all with effect from 11 December 2023. The biographical details of Mr. Wang are set out as follows: Mr. Wang, aged 65, holds an executive master's degree in business administration with the Cheung Kong Graduate School of Business. He joined the Ministry of Finance of the People's Republic of China ("MOF") in 1982 and has served as heads of various departments.

He held various positions such as the general manager of Debao Hotel operated by the MOF, the deputy general manager of Debao Industrial Corporation and the deputy officer of the bureaucratic service center at the MOF. He was also officer of General Office and Bureaucratic Service Center of National Council for Social Security Fund, the standing member of council of Beijing Charity Association and the member of 11th and 12th Beijing Municipal Committee of the Chinese People's Political Consultative Conference. From September 2018 to November 2019, Mr. Wang acted as the executive director and vice chairman of Hsin Chong Group Holdings Limited ("Hsin Chong").

Hsin Chong is a company incorporated in Bermuda with limited liability and the securities of which were listed on the Main Board of The Stock Exchange of Hong Kong Limited until 31 December 2019. Hsin Chong was principally engaged in engineering and property businesses, and was wound up by an order of the Supreme Court of Bermuda dated 20 January 2020, following a winding-up petition being filed by a creditor and shareholder of Hsin Chong in January 2019. Mr. Wang confirmed that (i) the winding up had not resulted in any liability or obligation imposed against him, (ii) there was no wrongful act on his part leading to the winding up process of Hsin Chong, and (iii) he was not aware of any actual or potential claim that had been or would be made against him as a result of the winding up.

From 28 November 2019 to 2 April 2020, Mr. Wang was the independent non- executive director, and on 3 April 2020, he was re-designated as the executive director and president of China Energy Storage Technology Development Limited (formerly known as Link-Asia International Co. Ltd.