Shenwan Hongyuan Group Co., Ltd. at its first extra ordinary general meeting held on August 26, 2022 considered and approved the resolution regarding
the election of Mr. Liu Jian as an executive Director, and The Board received resignation tendered by Mr. Chu Xiaoming, chairman and an executive Director of the Company. Mr. Liu has served as the chairman of the board of supervisors of Beijing-Shanghai High-speed Railway Co., Ltd. from July 2021 to August 2022.