Holly Futures Co., Ltd. at the EGM, appointed Mr. Zhang Hongfa as an independent non-executive Director with effect from 21 July 2023. Mr. Zhang Hongfa, aged 58, graduated from Soochow University in July 1986 with a bachelor degree in economics, is a senior accountant as credentialed by the Department of Human Resources and Social Security of Jiangsu Province and a Certified Public Accountant as credentialed by the Chinese Institute of Certified Public Accountants, Mr. Zhang had been a lecturer at Jiangsu Radio and Television University, now known as Jiangsu Open University from September 1986 to August 1993 and performed social audit work for Jiangsu Provincial Firm of Accountants from September 1993 to May 1998. He has worked in the Jiangsu Institute of Certified Public Accountants from June 1998 to August 2014.

He has also been the deputy secretary-general of Jiangsu Province Appraisal Society from August 2014 to June 2017. He has been the secretary-general of Jiangsu Province Appraisal Society from July 2017 to February 2021 and the vice-chairman since March 2021. During the period between 8 July 2013 and 15 November 2019, Mr. Zhang served as independent non- executive Director of the Company.

In addition, he has served as an independent director of Jiangsu Zijin Rural Commercial Bank CO., LTD. (stock code: 601860), the shares of which are listed on the Shanghai Stock Exchange, since 30 November 2017. He has also served as an independent director of Jiangsu Guoxin Corporation Limited (stock code: 002608), the shares of which are listed on the Shenzhen Stock Exchange, since 25 May 2022. The term of office commences from the date of approval by the Shareholders at the EGM until the expiry of the term of office of the fourth session of the Board.