The board of directors of Kuaishou Technology announced that Dr. Shen Dou tendered his resignation as a non-executive Director with effect from September 13, 2023, due to his other business commitments. The Board announced that Professor Xiao Xing has been appointed as an independent non-executive Director with effect from September 13, 2023. Prof. Xiao Xing, aged 52, is a professor and the head of the accounting department of the School of Economics and Management of Tsinghua University, where she has taught classes since April 1997.

During her time at the Tsinghua University, Prof. Xiao visited Massachusetts Institute of Technology and University of Wisconsin as a visiting scholar and received the Fulbright Scholar award in 2011. Prof. Xiao also served as a faculty co-chair in the senior executive program which was jointly held by the School of Economics and Management of Tsinghua University, China Europe International Business School and Harvard Business School. Prof. Xiao's main research areas are corporate governance, financial management, financial statement analysis and financial accounting.Prof. Xiao has served as an independent non-executive director of Li Auto Inc. (a company listed on Nasdaq with stock symbol of LI and on the Stock Exchange with stock code of 02015) since August 2021; an independent director of Mango Excellent Media Co.

Ltd. (a company listed on the Shenzhen Stock Exchange with stock code of 300413) since January 2019; an independent director of Bloomage Biotechnology Corporation Limited (a company listed on the Shanghai Stock Exchange with stock code of 688363) from March 2019 to April 2022; an independent non-executive director of Agricultural Bank of China Limited (a company listed on the Shanghai Stock Exchange with stock code of 601288 and the Stock Exchange with stock code of 01288) from March 2015 to November 2021; an independent director of Goertek Inc. (a company listed on the Shenzhen Stock Exchange with stock code of 002241) from September 2013 to November 2019; an independent director of Beijing Thunisoft Corporation Limited (a company listed on the Shenzhen Stock Exchange with stock code of 300271) from July 2019 to March 2020; and an independent director of Aixin Life Co. Ltd. since August 2017. Prof. Xiao accumulated corporate governance knowledge and experience through her academic research and the foregoing directorships.

Prof. Xiao received a bachelor's degree in mechanical engineering and a second bachelor's degree in business management from Tsinghua University in July 1994 and a master's degree in industrial foreign trade (accounting) from Tsinghua University in March 1997. Prof. Xiao obtained her doctorate degree in business administration from Tsinghua University in January 2004. The Board announces that following the appointment of Prof. Xiao as an independent non-executive Director and with effect from September 13, 2023, Prof. Xiao has been appointed as a member of each of the audit committee of the Board (the "Audit Committee"), the Remuneration Committee, the Nomination Committee and the corporate governance committee of the Board, and Mr. Wang Huiwen has ceased to be a member of the Audit Committee.