The board of directors of Cornerstone Financial Holdings Limited announced that Mr. Gao Ran has resigned as an executive Director, the chairman of the Board, the chairman and member of each of the executive committee and investment committee of the Company due to his other personal engagements and business commitments. The Board has resolved to confirm and accept Mr. Gao?s resignation with effect from 5 September 2023. The Board announced the following appointments with effect from 5 September 2023: Mr. An Xilei has been appointed as the chairman of the Board; and the chairman of each of the Executive Committee and Investment Committee.

Mr. Liu Shihao has been appointed as an executive Director, a member of each of the Executive Committee and Investment Committee. Mr. An, aged 43, was appointed as an executive Director on 1 December 2016. He assumed the roles as the chairman of the Board from 1 December 2016 to 12 January 2018 and from 25 July 2018 to 4 December 2020 respectively; the deputy chairman of the Board from 12 January 2018 to 25 July 2018 and from 4 December 2020 until his re-designation as the chairman of the Board on 5 September 2023; a member of the Executive Committee from 26 March 2018 up to date, during which he was the committee chairman from 15 October 2018 to 4 December 2020; and a member of the Investment Committee on 12 August 2022 up to date.

Save for the above, Mr. An is also the chairman and member of the corporate governance committee of the Company. Mr. An is currently the chairman and chief executive officer of (Shenzhen Baishou Holding Co., Ltd) in the People?s Republic of China. Mr. An has extensive experience in business investments in various fields including real estate, financial services and internet industries over a span of different markets like Hong Kong and the U.S.A. Mr. Liu, aged 28, obtained his master?s degree in Finance from City University of Hong Kong and bachelor?s degree in mechatronic engineering from Chongqing University in the People?s Republic of China.

Mr. Liu worked for PacRay International Holdings Limited from July 2019 to July 2020, where his responsibilities included due diligence and research of some potential investment projects. He worked for the Company from July 2020 to November 2020, where his responsibilities included investment analyzing and post investment project supervising; then worked as a licensed representative for Cornerstone Securities Limited (a 91.19% indirectly owned subsidiary of the Company) together with its fellow subsidiary carrying on Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the SFO from April 2021 to August 2021. Mr. Liu was an executive director of DeTai New Energy Group Limited from August 2021 to March 2022, and an executive director of Windmill Group Limited from November 2021 to July 2023.