StarGlory Holdings Company Limited announced that Mr. Zeng Shiquan has resigned as an independent non-executive Director with effect from 4 July 2023 in order to devote more time to his other personal commitment. Following the resignation of Mr. Zeng, Mr. Feng Xingwe has been appointed as an independent non-executive Director with effect from 4 July 2023. Mr. Feng Xingwei aged 38, has over 10 years of experience in investment management, in particular within the information technology and semi-conductor industry.

Mr. Feng obtained a bachelor's degree with major in Accounting and Finance from the University of East London in United Kingdom in September 2008 and his qualification for fund investment from the Asset Management Association of China in July 2021. Before joining the Company, from July 2010 to May 2013, Mr. Feng worked as a manager in the post-investment management department at Zhejiang Zheshang Venture Capital Company Limited and subsequently as an investment manager at Shanghai New Access Capital Management Co. Ltd., whose business included equity investment management in the PRC, from May 2013 to April 2014.

Mr. Feng joined Shanghai Zhong Hui Jin Investment Co. Ltd. ("Shanghai ZHJ Group"), whose business included equity investment, investment management and asset management in the PRC and has held various position in its respective subsidiaries in the PRC since April 2014. He is currently the chief investment director of the equity department at Shanghai Zhong Hui Jin Chuang Ye Investment Co.

Ltd. Since May 2017, Mr. Feng has been a supervisor of Beijing Xiaoqing Environmental Protection Engineering Co. Ltd. Following the resignation of Mr. Zeng, he has ceased to be a member of the Audit Committee, a member of the Nomination Committee and a member of the Corporate Governance Committee with effect from 4 July 2023. Subsequent to the appointment of Mr. Feng as an independent non-executive Director, Mr. Feng has been appointed as a member of the Audit Committee, a member of the Nomination Committee, and a member of the Corporate Governance Committee with effect from 4 July 2023.