The board of directors of Gaush Meditech Ltd. announced that, with effect from January 10, 2023, Mr. Liu Xinwei (Mr. Liu), currently an executive Director and the chief financial officer (the Chief Financial Officer) of the Company, has been appointed as the co-chief executive officer (the Co-CEO) of the Company. In light of Mr. Liu's new role as the Co-CEO, Mr. Liu has ceased to act as the Chief Financial Officer with effect from January 10, 2023. Mr. Liu will remain as an executive Director.

Mr. Liu, aged 41, has around nine years of experience in the medical industry. Mr. Liu joined the Group as the board secretary of Gaush Medical Corporation, a wholly owned subsidiary of the Company, in May 2016. Mr. Liu served as the Chief Financial Officer from December 2018 to January 2023.

He has served as a Director since November 21, 2019 and was re- designated as an executive Director on November 18, 2021. Mr. Liu also holds directorship in Gaush Europe GmbH, Gaush Coöperatief U.A. and Gaush Teleon Ltd, all of which are wholly owned subsidiaries of the Company. Before joining the Group, from April 2013 to March 2016, Mr. Liu served as assistant to the president of Beijing Naton Group Co.

Ltd. Mr. Liu received his master degree in business administration from Tsinghua University in July 2013. He received his bachelor degree in information engineering from Zhejiang University in June 2004. Mr. Liu holds a legal professional qualification certificate issued by the Ministry of Justice of the People's Republic of China (the PRC) in March 2013 and became a non-practising member of the Beijing Institute of Certified Public Accountants in April 2017.