The board of directors of Aowei Holding Limited announced that Mr. Sun Jianhua has tendered his resignation as an executive Director and the chief financial officer of the Company with effect from 29 March 2023 due to work arrangements and he will remain as a director of certain subsidiaries of the Group and will serve as a consultant of the Company providing supporting services for the Company after resignation; and Mr. Tu Quanping has resigned as an executive Director of the Company with effect from 29 March 2023 due to the development of his other business commitments. The Board further announces that Mr. Zuo Yuehui has been appointed as an executive Director and the chief financial officer of the Company; and Mr. Sun Tao has been appointed as an executive Director of the Company, both with effect from 29 March 2023. Biographical details of Mr. Zuo and Mr. Sun are set out as follows: Mr. Zuo Yuehui, aged 44, has over 18 years of experience in accounting and financial management.

Prior to joining the Group, Mr. Zuo served as an accountant in the finance department of Laiyuan County Aoyu Steel Co. Ltd. from November 2004 to May 2012. He joined the Group in 2012 and successively served as the deputy chief of the finance section and the chief of the finance section of Laiyuan County Jingyuancheng Mining Co.

Ltd. from May 2012 to September 2022. He was appointed as the deputy general manager of Laiyuan County Aowei Mining Investments Co. Ltd. in March 2022 and was responsible for the financial accounting of Aowei Mining.

Mr. Zuo obtained a junior college diploma in computer accounting from Hebei Vocational College of Engineering and Technology in July 2002, and he also obtained the qualification of intermediate accountant from the Ministry of Finance of the People's Republic of China in May 2007. Mr. Sun Tao, aged 40, has over 18 years of experience in corporate management. Prior to joining the Group, Mr. Sun successively served as the head and chief of the procurement and supply department of Aoyu Steel from March 2005 to February 2013.

He joined the Group in 2013 and served as the head of the operation and planning department of Aowei Mining from February 2013 to March 2016. From March 2016 to February 2020, he served as the deputy general manager of Beijing Jianke Cloud Technology Co. Ltd., where he was responsible for product promotion and market development and overall affairs of its Shenzhen branch.

Mr. Sun re-joined the Group in February 2020 and was appointed as the deputy general manager of Aowei Mining and was responsible for the development strategy planning, project approval and other affairs of Aowei Mining. Mr. Sun was selected as a "Featured Talent in Laiyuan County" by the Communist Party of Laiyuan County Committee and the Laiyuan County People's Government on 28 March 2021. In January 2023, he was awarded as "Advanced Individual of Investment Attraction for High-quality Development" by Baoding Municipal Party Committee and People's Government of Baoding.

Mr. Sun graduated from Hebei Agricultural University with a bachelor 's degree in economics in July 2005, and he obtained the qualification as a Merchandiser from the Vocational Appraisal Centre of the Ministry of Labour and Social Security in August 2007.