The board (the ``Board'') of directors (the ``Directors'') of Yues International Holdings Group Limited (the ``Company'', together with its subsidiaries, the ``Group'') hereby announces that Mr. Du Yingyou (``Mr. Du'') has been re-designated from a non-executive Director to an executive Director with effect from 19 June 2023 (the ``Redesignation''). Biographical Details of Mr. Du Mr. Du, aged 33, was appointed as a non-executive Director on 19 October 2022. Dr. Du is currently the general manager of Shanghai Youyi Enterprise Management Consulting Company Limited since December 2017.

Mr. Du held the position as senior director and partner of Shanghai Haobo Investment Company Limited from July 2012 to November 2017. Save as disclosed, as at the date of this announcement, Mr. Du (i) does not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company; (ii) does not have, and is not deemed to have, any interests or short positions in any Shares, underlying shares or debentures of the Company or any of its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)); (iii) did not hold any other directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iv) does not hold other positions with other members of the Group. In respect of the Redesignation, Mr. Du has entered into a new service agreement with the Company, to replace the existing letter of appointment with the Company, for an initial term of three years commencing from 19 June 2023, subject to retirement by rotation and re- election pursuant to the articles of association of the Company.

The service agreement can be terminated by either party by giving to the other three months' prior notice in writing. Upon the Redesignation, Mr. Du is entitled to a director's remuneration of HKD 50,000 per month, which was approved by the Board on the recommendation of the remuneration committee and determined with reference to his general duties and responsibilities and the prevailing market conditions.