The board of West China Cement Limited announced that, with effect from 2 February 2023 Dr. Ma Weiping has resigned as chief executive officer with effect from 2 February 2023 in order to devote more time to his other personal endeavours. Mr. Cao Jianshun has been appointed as chief executive officer with effect from 2 February 2023. Mr. Cao, aged 50, graduated with a bachelor's degree in economics management from Party School of Shaanxi Provincial Committee of the C.P.C and a master's degree in business administration from Northwest University in China.

Mr. Cao has extensive management and technical experience in the building materials industry in China. He joined Yaobai Special Cement Group Co. Ltd., a wholly-owned subsidiary of the Company, in March 1994 and has held various key positions successively, including (i) director of Cement Machinery Factory of Yaobai Group from January 1997 to August 2005; (ii) director of No.

1 Cement Factory of Pucheng Yaobai Special Cement Co. Ltd. from August 2005 to June 2008; (iii) manager of Ankang Yaobai Cement Co. Ltd. from June 2008 to December 2012; and (iv) general manager in the Ankang Region of Yaobai Group from January 2013 to December 2015.

Besides, Mr. Cao served as general manager of Chzhungtsai Mohir Cement LLC from January 2016 to December 2018 and vice president of International Cement Investment Management Company from January 2019 to January 2023. He has been the chairman and president of Yaobai Group since January 2023. With extensive experience in the building materials industry, Mr. Cao won the 'Shaanxi Provincial Building Materials Industry Advanced Individual' award.