The board of directors of Zibuyu Group Limited announced that Mr. Chen Caixiong was appointed as a co-chief executive officer of the Company by the Board on 27 March 2024. Mr. Chen Caixiong, aged 43, is primarily responsible for overseeing the overall operation and supply chain management of the Group. Mr. Chen joined the Group in March 2023 and was appointed as a vice president of the Group in May 2023.

Mr. Chen has extensive experience in supply chain management. Prior to joining the Group, Mr. Chen worked as a senior production director at Urban Revivo Fashion (GZ) Co. Ltd. from April 2022 to November 2022.

Before that, he held positions in Decathlon Group, Guangzhou EPO Clothing Co. Ltd. and Anzheng Fashion Group Co. Ltd. Mr. Chen graduated from Xiangtan University in June 2004 majoring in business English and from Sichuan University in June 2018 majoring in law (online education).

The Board also announced that Mr. Hua Bingru, an executive Director, the chairman of the Board and the chief executive officer of the Company, is re-designated as a Co-CEO with immediate effect. His position as an executive Director and the Chairman remains unchanged. Mr. Hua Bingru, aged 36, is the founder of the Group, an executive Director and the chairman of the Board.

Mr. Hua was appointed as a Director on 6 August 2018 and was re-designated as an executive Director on 18 June 2021. He is primarily responsible for formulating the overall corporate and business strategies and overseeing the management and operation of the Group. With over ten years of industry experience, Mr. Hua gained in-depth understanding of the industry where the Group operates and acquired rich management experience by managing the Group and developing business.

Mr. Hua registered an online store on Taobao in September 2008 and started e-commerce business when he studied in the university. He founded the Group in April 2011 and has been the chairman of the board and the general manager of Zhejiang Zibuyu Electronic Commerce Co. Ltd. since then, and has dedicated substantially all his time in the daily operation and management of the Group.

He has also held positions in several subsidiaries of the Company, including a director of Zibuyu International Limited since September 2016, a director and the general manager of Hangzhou Chengyusi Network Technology Co. Ltd. and Hangzhou Junbuqi Network Technology Co. Ltd. from May 2018 to February 2019 and from August 2018 to February 2019, respectively and a director and the general manager of Hangzhou Shangzhi Network Technology Co.

Ltd. since November 2018. In addition, he was elected as a committee member of the First Chinese People's Political Consultative Conference of Linping District, Hangzhou in June 2021. He was awarded the Top 10 Pioneer Youth in Hangzhou in 2019 (2019) by the Hangzhou Enterprise Brand Development Promotion Association in 2019 and received the nomination of the Ten Outstanding Entrepreneur in Hangzhou granted by the Hangzhou Municipal People's Government, Department of Commerce of Zhejiang Province and Zhejiang Daily Press Group.

Mr. Hua graduated with a bachelor's degree in electronic science and technology from Chaohu University in July 2011.