The board of directors of Yue Da International Holdings Limited announced that, with effect from 11 April 2023, Mr. Bai Zhaoxiang has tendered his resignation as Chief Financial Officer of the Company as he reached the retiring age and intended to devote more time to his other personal matters. Mr. Bai Zhaoxiang has confirmed that he has no disagreement with the Board and there are no other matters that need to be brought to the attention of holders of securities of the Company in connection with his resignation. The Board is also announced that, with effect from 11 April 2023, Mr. Wu Shengquan has been appointed as Chief Financial Officer of the Company.

Mr. Wu Shengquan (" Mr. Wu "), aged 40, was appointed as an executive director and Chief Financial Officer of the Company. He is also the Vice General Manager of Yueda (Shenzhen) Commercial Factoring Co. Ltd. and Yueda Commercial Factoring Co.

Ltd. Mr. Wu is an intermediate accountant and an intermediate economist in the PRC and graduated from Jiangsu University with major in Accounting. He has over 20 years' experience in finance and business factoring.