Hao Bai International (Cayman) Limited announced that Mr. Wang Lun has resigned as an (i) executive director; (ii) chairman of the Board; (iii) chairman of the nomination committee of the Board; (iv) the Exchange authorised representative; and (v) General Manager of the Company, with effect from 20 November 2023 as he would like to spend more time to pursue his own businesses. Mr. Wang confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The board further announced that Ms. Chen Xiaodan has resigned as a non- executive director of the Company with effect from 20 November 2023, due to her decision to devote more time to other businesses.

Ms. Chen confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited . Immediately following the resignation of Mr. Wang, Mr. Shu Zhongwen, currently an executive director and chief executive officer of the Company, has been appointed as the chairman of the Nomination Committee, with effect from 20 November 2023.