On 15 June 2023, the board of directors of Tong Ren Tang Technologies Co. Ltd. received a resignation letter from Mr. Wang Yu Wei, informing the Board of Mr. Wang's application for resignation from the position as an executive Director and the general manager of the Company due to work changes. The resignation of Mr. Wang as an executive Director will take effect upon the new executive Director being elected by the shareholders of the Company at the general meeting to be held and his resignation as the General Manager has taken effect from 15 June 2023.

The Board further announced that, on 15 June 2023, the Board proposed to appoint Mr. Chen Jia Fu as an executive Director and the General Manager. The proposed appointment of Mr. Chen as an executive Director is subject to the approval by the Shareholders at the general meeting. The proposed appointment of Mr. Chen as the General Manager has taken effect from 15 June 2023.

Mr. Chen Jia Fu, aged 54, a pharmacist-in-charge and a licensed pharmacist with a postgraduate degree. He formerly served as the deputy secretary to the Party Committee of the Company, the secretary to the Disciplinary Inspection Committee of the Company, the chairman of the labour committee of the Company, and the deputy general manager of the Company. He used to work as the deputy general manager of Beijing Tong Ren Tang Company Limited and used to work as the chairman of the board, the secretary of general Party branch, the director and the general manager of Beijing Tong Ren Tang Pharmaceutical Co.

Ltd. He currently serves as the secretary of the Party Committee of the Company and the General Manager.