The board of directors of Yue Da International Holdings Limited announced that, with effect from 23 May 2022, Mr. Cai Baoxiang has tendered his resignation as an executive director of the company due to the re-designation of roles within a substantial shareholder of the Company and its subsidiaries. The board announced that, with effect from 23 May 2022, Mr. Yu Guangshan has been appointed as a non-executive Director. Mr. Yu Guangshan (Mr. Yu), aged 55, was appointed as a non-executive Director.

Mr. Yu graduated with a bachelor's degree in accounting from Dalian University of Technology. Mr. Yu is a senior accountant as credentialed by the Department of Human Resources and Social Security of Jiangsu Province. Mr. Yu has over 20 years of experience in the financial accounting industry.

Mr. Yu worked in the finance department of a company in the PRC from August 1988 to May 2000. Subsequently, Mr. Yu joined Jiangsu Yueda Group in May 2000. Mr. Yu served as the head of finance department of Jiangsu Yueda Investment Company Limited from July 2010 to November 2015, and has been a director and deputy general manager of Yueda Capital Company Limited since December 2015.