The board of directors of China Asia Valley Group Limited announced that Mr. Wang Yan has been appointed as the executive president of the Company with effect from 2 September 2022. Mr. Wang, aged 44, has 21 years of experience in property development, property management and industrial park related investment and operations in the People's Republic of China (the"PRC"). Prior to joining the Company, Mr. Wang was the chairman and general manager of Guizhou Baikong Industrial Development Co.

Ltd. from July 2013 to May 2022 and the general manager of Shenzhen Tianli Real Estate Group Co. Ltd. from August 2008 to June 2013. From July 2002 to August 2008, Mr. Wang served as a department manager and chairman of subsidiary(ies) of Shenzhen Mintai Group Co.

Ltd. Mr. Wang graduated from Jilin University with a bachelor's degree in engineering in 2001. Mr. Wang is a mechanical engineer in the PRC.