The board of directors of Xin Yuan Enterprises Group Limited announce that with effect from 20 December 2021, Mr. Chen Ming (Mr. Chen), an executive director, has been appointed as the chairman of the Board, the chairman of the nomination committee (the Nomination Committee), and the authorized representative, announced that Mr. Wang Faqing has tendered his resignation as an executive Director, the chairman of the Board, the chairman of the Nomination Committee, and the authorized representative, all with effect from 20 December 2021 due to his other personal commitments which requires more of his time and dedication, appointed Mr. Wei Shusong (Mr. Wei) as an independent non-executive Director and the member of the Audit Committee, announced that Mr. Lai Guanrong has tendered his resignation as an independent non-executive Director and the member of the audit committee with effect from 20 December 2021 due to his other personal commitments which requires more of his time and dedication. Mr. Wang has resigned as the authorised representative of the Company and Mr. Chen has been appointed as the Authorised Representative. The Board announced that with effect from 20 December 2021, Mr. Wang has resigned as the chairman of the Nomination Committee and Mr. Chen has been appointed as the chairman of the Nomination Committee. The Board announced that with effect from 20 December 2021, Mr. Lai has resigned as the member of the Audit Committee and Mr. Wei has been appointed as the member of the Audit Committee. Mr. Chen, from September 2018 to October 2020, Mr. Chen worked in Xinhua Fortune Group Company Limited. Mr. Wei served as an independent director in Fujian Star-net Communication Co., Ltd from October 2005 to December 2011, in Yango Group Co.,Ltd from December 2007 to December 2010, and in Fujian Nanping Sun Cable Co., LTD. from January 2013 to September 2014 respectively.