The board of directors of Champion Alliance International Holdings Limited announced that, with effect from 29 December 2023, Mr. Li Aiguo and Mr. Chen Chen have been appointed as executive Directors. Mr. Li Aiguo, aged 45, has approximately 18 years of experience in the paper industry. He graduated from Wuhan University with a bachelor's degree in law in June 2003.

Mr. Li has been engaged in the household paper industry since August 2005. Since June 2020, he has served as the production department manager of Shandong Jiexin Paper Co. Ltd. (formerly known as Dongshun Group Co., Ltd), a company engaged in the manufacturing of household paper and personal hygiene products in China.

Mr. Li received the May 1st Labor Medal of Heilongjiang Province in May 2017 and the title of Technical Expert of Dongping County in December 2020. He obtained three utility model patents in the paper industry for the company from 2021 to 2022. Mr. Chen Chen, aged 33, is the sales director of the Group's office in Beijing.

He graduated from Beijing Sport University in July 2012 with a bachelor's degree in education. Mr. Chen has served as a village official for university students in Beijing since July 2012 and received the honour of outstanding village official for university students. Since September 2015, he has served as sales manager and sales director respectively at Shandong Jiexin Paper Co.

Ltd. (formerly known as Dongshun Group Co. Ltd.), a company engaged in the manufacturing of household paper and personal hygiene products in China. Mr. Chen has been the individual sales leader for five consecutive years, and also led his team to win the honour of outstanding team for five consecutive years.

That Board further announces that Mr. Zhang Shihua resigned as an executive Director and chief information officer of the Company with effect from 29 December 2023 due to his personal reasons and other commitments which require more of his dedication. Mr. Zhang confirmed that he has no disagreement with the Board and there are no other matters in respect of his resignation as an executive Director that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.