Ucommune International Ltd. announced that Ms. Xin Guan has tendered her resignation as the chief executive officer for personal reasons not resulting from any disagreement with the Company, its management, board of directors (the ?Board?) or any committee of the Board, on any matter relating to the Company?s operations, policies or practice. The Board has accepted Ms. Guan?s resignation on November 16, 2023. The Board has appointed Mr. Zirui Wang as the chief executive officer of the Company in concurrent with his position as the Company?s chief risk officer, effective from November 16, 2023.

Mr. Zirui Wang has served as the chief risk officer of the Company since 2021, with an in-depth understanding of the Company?s business operations in various regions across China, and extensive experience in risk assessment and management. Mr. Xiaodong Li has served as a key regional leader of the Company for several regions across China since 2016 with rich frontline operation and management experience. Several projects in Mr. Li?s charge have yield outstanding financial results.

Ms. Xin Guan has extensive experience in new business development and has facilitated several significant cooperation's between the Company and its business partners, developing new business lines and enriching the business model of the Company.