The board of directors of Aoyuan Healthy Life Group Company Limited announced that Mr. Guo Zining has tendered his resignation and ceased to act as the non-executive Director, the chairman of the Board, a member of the remuneration committee of the Company (the "Remuneration Committee"), the chairman of the nomination committee of the Company with effect from 16 February 2023 due to his other business commitments. The Board announced that Mr. Zhu Yunfan has been appointed as a non-executive Director with effect from 16 February 2023 and is responsible for supervising the overall management, investment and financing of the Group, and providing professional opinion to the Board to enhance the Group's internal control and financial management. The biographical details of Mr. Zhu are as follows: Mr. Zhu, aged 49, has over 20 years of experience in banking, finance and management.

Mr. Zhu is the chairman of Guangdong Xinhuo Industrial Group Co. Ltd. since June 2009. Prior to joining the Group, during the period from July 2016 to June 2022, Mr. Zhu served as the Chief Secretary of Financial Development Research Society of Guang Dong during the period from March 2015 to November 2018, Mr. Zhu served as the President of KEB Hana Bank (China) Company Limited during the period from October 2013 to February 2015, Mr. Zhu served as the Chairman of Guangzhou Shiwai Gaoren Sports Development Co.

Ltd. during the period from April 2006 to October 2013, Mr. Zhu assumed a number of roles in Guangzhou Rural Commercial Bank where his last positions therein was the President of Sub-branch and General Manager of Agricultural Finance Division; during the period from August 1996 to July 2005, Mr. Zhu assumed a number of roles in Shenzhen Development Bank Guangzhou Branch (currently known as Ping An Bank Co. Ltd., where his last position therein was President of China Plaza Sub-branch. Mr. Zhu obtained a Doctor of Business Administration and a Master of Business Administration in October 2007 and in June 2004 respectively both from Macau University of Science and Technology and he has attained a Bachelor of Economic Management from College of The Central Committee of the Communist Party of China in December 2000 and graduated from Guangzhou Finance College (currently known as Guangdong University of Finance in June 1996, majoring in International Finance.

Following Mr. Guo's resignation, Mr. Guo has also ceased to be a member of the Remuneration Committee, the chairman of the Nomination Committee and Mr. Cheng Siu Fai the existing executive Director, has been appointed as a member of the Remuneration Committee, the chairman of the Nomination Committee and the Authorised Representative in replace of Mr. Guo with effect from 16 February 2023.