Hao Bai International (Cayman) Limited announced that with effect from 1 December 2022 Ms. Wong Wing Hung has resigned as the chief executive officer of the Company but will remain as an executive director of the Company, the chairman of the Board, the chairman of the Nomination Committee, the Exchange authorised representative and the agent for service of process in Hong Kong. Mr. Shu Zhongwen has been appointed as an executive director of the Company with effect from 1 December 2022. Mr. Shu, aged 49, has more than 20 years of working experience in corporate and project management.

Mr. Shu was appointed as an executive Director of China Greenfresh Group Company Limited between 5 June 2020 and 31 December 2020, while Mr. Shu was appointed as the Chairman between 31 December 2020 and 25 June 2021. Mr. Shu was an executive director of Kiu Hung International Holdings Limited from 25 October 2018 to 28 June 2019. Mr. Shu was a vice president of Jingdezhen Jingdong Ceramics Company Limited from August 2010 to July 2016.

Mr. Shu has been working as an executive president of Huge Profit International (HK) Holdings Limited since July 2016 and managing director of since 2021. Mr. Shu graduated from Jiangxi University of Science and Technology in 2007. Mr. Shu is subject to rotation and re-election as a Director pursuant to the Articles of Association of the Company.

He will hold office until the next following annual general meeting of the Company and will be eligible for re-election at such annual general meeting in accordance with the articles of association of the Company.