The board of directors of Palasino Holdings Limited announced that with effect from 1 July 2024, (i) Mr. Mengbi LI will be appointed as a non-executive Director; and (ii) Ms. Jie JIAO will be appointed as an independent non-executive Director and a member of the Company's audit committee. Mr. Mengbi LI, aged 36, is currently an executive director of Sigma Management Limited. From May 2019 to April 2023, he served as the senior trust manager of Shanghai Aijian Trust Co.

Ltd. and was responsible for the development of the company's trust business. From February 2016 to November 2018, Mr. LI worked at Shanghai Huarong Tongyuan Cultural Industry Investment and Development Co., Limited as investment manager, vice president, senior vice president and was responsible for the operation of company investment business. From July 2015 to February 2016, he served as an investment manager at Greenland Financial Holdings Group Co.

Ltd. From August 2013 to July 2015, Mr. LI worked as an analyst at CCB International (Shanghai) Venture Capital Co. Ltd. From July 2012 to July 2013, Mr. LI was a management trainee of HSBC Bank (China) Limited. Mr. LI graduated from the University of Sydney Business School in December 2010 with a bachelor's degree in commerce, and obtained a master's degree in finance from the University of Sydney in July 2012.

Mr. LI obtained the Chartered Financial Analyst qualification in September 2018. Ms. Jie JIAO, aged 43, is currently the chief financial officer of Play for Dream Inc. Ms. JIAO joined MOG Digitech Holdings Limited, a company listed on the Stock Exchange as an independent non-executive director since April 2020. She was appointed as independent director of Quhuo Limited, a company listed on Nasdaq (stock code: QH) since July 2020.

From June 2019 to May 2022, she was appointed as independent director of China Index Holdings Limited, a company listed on Nasdaq. Ms. JIAO was appointed as an independent non-executive director of TradeGo FinTech Limited, a company listed on the Stock Exchange since September 2018. From June 2014 to December 2018, she was the financial officer of iClick Interactive Asia Group Limited, a company listed on Nasdaq and was responsible for corporate finance and internal control.

From March 2012 to May 2014, Ms. JIAO was the joint company secretary and general legal counsel of ArtGo Holdings Limited, a company listed on the Stock Exchange. From January 2010 to February 2012, Ms. JIAO was the chief legal counsel and head of investor relations of SouFun Holdings Limited, a company listed on the New York Stock Exchange. From January 2007 to 2010, she served as the joint company secretary and special assistant to the chairman of the board of directors of Century Sunshine Group Holdings Limited.

Ms. JIAO graduated from the Law School and China Center for Economic Research at Peking University with bachelor's degrees in law and economics in July 2003 and obtained a degree of magister juris from University of Oxford in July 2005. Ms. JIAO obtained the certificate of Legal Profession Qualification in March 2010. She also obtained Chartered Financial Analyst qualification in September 2014.

Mr. LI and Ms. JIAO will hold office only until the forthcoming annual general meeting of the Company and, being eligible, may offer themselves for re-election at the meeting in accordance with the articles of association of the Company.