The board of Cheshi Technology Inc. announced that, on May 17, 2022, the company established a strategic management and development center, which is responsible for (among other things) reviewing the company's long-term development strategies, new business expansion and major capital operation plans and making recommendations to the Board thereon. Mr. XU Chong, chairman of the Board and chief executive officer of the company, serves as the person-in-charge of the strategic management and development center, and Mr. LIU Lei, president of the company, Mr. ZHU Zhongqi, chief operating officer of the company, and Mr. LIN Yuqi, chief technology officer of the company, serve as executive team members. The board announced that, with effect from May 17, 2022, Mr. ZHU Boyang (Mr. ZHU) has been re-designated from an executive Director to a non-executive Director due to work arrangements to focus more on the business of the Group and has resigned as the joint company secretary of the company (joint company secretary), and ceased to be an authorized representative of the company under Rule 3.05 of the Listing Rules and an authorized representative under Part 16 of the Companies Ordinance for acceptance of service of process and notices on behalf of the company (Process Agent), chief financial officer of the company and the chief financial officer of Congshu Beijing Technology Company Limited ("Congshu Beijing").

Ms. LEUNG Shui Bing, another Joint Company Secretary, will continue to serve as a sole company secretary of the Company. Mr. ZHU was appointed as a director in May 2019 and was re-designated as an executive Director and was appointed as the Joint Company Secretary both in June 2019. The board further announces that Mr. XU has been appointed as an Authorized Representative and Ms. LEUNG has been appointed as the Process Agent, both with effect from May 17, 2022.