The board of directors (the "Directors") of Wenling Zhejiang Measuring and Cutting Tools Trading Centre Company Limited announces that with effect from 27 March 2024, Mr. Huang Qun ("Mr. Huang") has resigned as non-executive Director and chairman of the Board (the "Chairman") and ceased to be the chairman of the nomination committee of the Company (the "Nomination Committee") and a member of the Audit Committee of the Company (the "Audit Committee") as he would like to devote more time to his other personal commitments. On 27 March 2024, Mr. Pan Haihong ("Mr. Pan"), who is currently an executive Director, was appointed as the Chairman and the chairman of the Nomination Committee. The Board also hereby announces that on 27 March 2024, Mr. Lai Wai Leuk ("Mr. Lai"), has tendered his resignation as a joint company secretary of the Company.

On 27 March 2024, Ms. Xie Yanli ("Ms. Xie") tendered her resignation as a shareholder representative supervisor of the Supervisory Committee of the Company (the "Supervisory Committee") as she would like to devote more time to her other personal commitments. The resignation of Ms. Xie will take effect upon the conclusion of the AGM subject to the approval by the Shareholders of the appointment of the proposed new supervisor at the AGM. The Board hereby further announces that following the resignation of Mr. Huang, Mr. Jin Hongqing, the independent non-executive Director, has been appointed as a member of the Audit Committee with effect from 27 March 2024.