Yadea Group Holdings Ltd. announced the following change of independent non-executive Directors and members of Board committees: As disclosed in the Circular, Mr. Li Zongwei ("Mr. Li") and Mr. Yao Naisheng ("Mr. Yao") have decided not to offer themselves for re-election at the AGM, due to their personal pursuits. Meanwhile, Mr. Wu Biguang ("Mr. Wu") has also decided not to offer himself for re-election at the AGM by complying with the best corporate
governance standard, as he will have served the Board for more than 9 years. Following their retirements as independent non-executive Directors upon the conclusion of the AGM, Mr. Li ceased to act as the chairman of the audit committee of the Company (the "Audit Committee") and a member of the nomination committee of the Company (the "Nomination Committee"), Mr. Yao ceased to act as a member of the Audit Committee, a member of the remuneration committee of the Company (the "Remuneration Committee") and a member of the Nomination Committee, and Mr. Wu ceased to act as a member of the Audit Committee, the chairman of the Remuneration Committee and a member of the Nomination Committee. Following the passing of resolutions numbered 3(B)(i) to 3(B)(iii) above, Mr. Chen Mingyu ("Mr. Chen"), Ms. Ma Chenguang ("Ms. Ma") and Ms. Liang Qin ("Ms. Liang") have been appointed as independent non-executive Directors with effect upon the conclusion of the AGM. Upon their appointments as the independent non-executive Directors, Mr. Chen will serve as the chairman of the Audit Committee and a member of the Nomination= Committee, Ms. Ma will serve as the chairman of the Remuneration Committee, members of the Audit Committee and the Nomination Committee, and Ms. Liang will serve as members of the Audit Committee, the Remuneration Committee and the Nomination Committee.