SITC International Holdings Company Limited announced that Mr. Yang Xianxiang, an existing executive Director, vice chairman of the Board (the "Vice Chairman") and chief executive officer of the Company (the "CEO"), has been re-designated as the Chairman of the Board. Following the re-designation as the Chairman of the Board, Mr. Yang Xianxiang will no longer hold the position as the CEO in order to maintain good corporate governance practices. The Board announced that Mr. Xue Mingyuan, an existing executive Director, has been appointed as the CEO in place of Mr. Yang Xianxiang with effect from 7 March 2024.

Mr. Xue Mingyuan, aged 50, has been appointed as an executive Director since 11 March 2013. Mr. Xue has been serving as the president of SITC Shipping Group and the general manager of SITC Container Lines since December 2012. Mr. Xue obtained a master degree in international shipping and logistics management from The Hong Kong Polytechnic University () in November 2004.

He received a master degree in business administration from China Europe International Business School in September 2012. Mr. Xue has over 26 years of experience in the shipping industry. During the period from August 1997 to November 2012, Mr. Xue had served as the export supervisor of SITC Lianji (Shandong) Co.

Ltd., the manager of the customers service department and the sales and marketing department of SITC Container Lines, the deputy general manager and general manager of SITC Container Lines (Korea) Co. Ltd. and the general manager of SITC Container Lines Company Limited.