The board of directors of Wasion Holdings Limited announced the following changes to the Board with effect from 1 June 2022: Ms. Cao Zhao Hui has retired as CEO of the Company; and Mr. Kat Chit has been appointed as CEO of the Company. Ms. Cao has retired as the chief executive officer (CEO') of the Company. Ms. Cao's retirement as CEO is to allow her more time to devote to the development of the Advanced Distribution Operations business of the Group, which is a key growth area of the Group, whilst still being able to contribute her valuable skills and experience to the Company through her new position as a non-executive director of the Company. Ms. Cao, aged 54, was an executive director and the CEO of the Company. Ms. Cao graduated from Hunan University of Technology and Business with a bachelor degree in Economics. She also obtained a degree in executive master of business administration from the University of Hunan. Ms. Cao joined the Group in 2000 and was appointed as an executive director of the Company with effect from 3 March 2005. Mr. Kat Chit appointed as CEO of the Company. Mr. Kat, aged 38, was a non-executive director of the Company. Mr. Kat graduated from the University of British Columbia in Canada with a bachelor degree in economics in 2007. From 2007 to 2011, he
was an executive of the equity capital markets division of Macquarie Group Limited. Mr. Kat was appointed as a non-executive director of the Company on 12 August 2014. Mr. Kat is primarily
responsible for managing the operation of Willfar Information Technology Company Limited the shares of which are listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. Mr. Kat is currently a director and the chairman of Willfar Information Technology. Mr. Kat is the son of Mr. Ji Wei, the chairman, executive director and controlling shareholder of the
Company.