The board of directors of Yue Da International Holdings Limited announced that, with effect from 12 January 2024, Mr. Liu Debing has tendered his resignation as the chairman of the Board due to the re-designation of roles within the ultimate beneficial owner of the Company and its subsidiaries. RE-DESIGNATION OF DIRECTOR: Mr. Yu Guangshan will be re-designated from a non-executive director of the Company to an executive director of the Company with effect from 12 January 2024. Set out below are the biographical details of Mr. Yu.

Mr. Yu, aged 57, was appointed as an executive director of the Company. Mr. Yu holds a bachelor's degree in accounting from Dalian University of Technology, is a Chinese certified public accountant, and obtained the senior accountant qualification certificate issued 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 People's Republic of China from August 1988 to May 2000. Subsequently, Mr. Yu joined Jiangsu Yue Da Group Company Limited 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 deputy general manager of Yueda Capital Company Limited since December 2015.

Mr. Yu has also been as a committee member of the Party Committee of Yueda Capital Company Limited since November 2020. Yueda Capital Company Limited owns 100% of issued share capital of Yueda Capital (HK) Limited which in turn owns 51.34% issued share capital of the Company. The Board announced that, with effect from 12 January 2024, Mr. Wu Yinghua has been appointed as an executive director, the chairman of the Board and the chairman of Nomination Committee of the Company.

Set out below are the biographical details of Mr. Wu. Mr. Wu, aged 53, was appointed as an executive director, the chairman of the Board and member of the Nomination Committee of the Company. Mr. Wu holds a bachelor's degree in accounting from Renmin University of China, is a Chinese certified public accountant, and obtained the senior accountant qualification certificate issued by the Department of Human Resources and Social Security of Jiangsu Province.

Mr. Wu has over 30 years of experience in the financial accounting industry. Mr. Wu joined Jiangsu Yue Da Group Company Limited in July 2005. Mr. Wu has been the secretary of the Party Committee and chairman of Yueda Capital Company Limited since December 2023.

Yueda Capital Company Limited owns 100% of issued share capital of Yueda Capital (HK) Limited which in turn owns 51.34% issued share capital of the Company.