The board of directors of Greatime International Holdings Limited announced the following: Mr. Du Shuwei has been re-designated from the chief executive officer of the Company (the "CEO") to the vice Chairman of the Board with effect from 1 August 2023. Mr. Shu Dakun ("Mr. Shu") has been appointed as the CEO, the Authorised Representative with effect from 1 August 2023. Mr. Shu Dakun, aged 57, graduated from Southwestern University of Finance and Economics, the PRC with a master's degree in business management in June 2005.

He obtained fund practitioner qualification from the Securities Association of China in March 2018. He was employed by the Bank of Communications from May 1994 to May 2014, with his position last held as the president of the Heilongjiang branch. From June 2014 to June 2017, he was the chairman of the board of Glory Industrial Investment Fund Management Co.

Ltd. He was the vice president of Sichuan Financial Holding Group Co. Ltd. from July 2017 to August 2021. He has been the chairman of the board of Huasheng Asset Management Co.

Ltd. since September 2021, an executive director of Hainan Guangxun International Investment Co. Ltd. since August 2022 and the chairman of the board of Youying Intelligent Technology (Shenzhen) Co. Ltd. since May 2023.