The board of directors of Dragon King Group Holdings Limited announced the following changes to the Board with effect from 12 October 2023: Ms. Shen Taiju, has been redesignated from an executive Director to a non-executive Director due to her health & personal reason. Ms. Shen, aged 41, was appointed as an executive Director in January 2022 and the chairman of the Company in October 2022. Ms. Shen has experience in business management, operation and food and beverages industry.

From August 2018 to September 2020, Ms. Shen was a business director of Hongganguo Information Tech Co., Limited. Mr. Tang Hong Jiang has been redesignated from a non-executive Director to an executive Director. Mr. Tang, aged 47, was appointed as a non-executive Director in July 2023.

Mr. Tang has been studying in Henan Institute of Science and Technology, since 2021. Mr. Tang has more than 20 years of working experience and has extensive experience in the field of fashion and internet. He has been acted as senior management for several sizeable companies in the People's Republic of China.

Following the Re-designation of Ms. Shen, Ms. Shen also ceased to be the chairman of the Company and the chairman of the Nomination Committee with effect from 12 October 2023. Mr. Tang has been appointed as the chairman of the Company and the chairman of the Nomination Committee with effect from 12 October 2023. Following the resignation of Ms. Shen, Mr. Tang has been appointed as the Compliance Officer and the Authorised Representatives with effect from 12 October 2023.