The board of supervisors of Zhejiang RuiYuan Intelligent Control Technology Company Limited received the resignation report tendered by Mr. Shi Huanmiao as an employee's representative supervisor of the board of supervisors of the Company (the ``Board of Supervisors'') with effect from 4 November 2020 due to his personal career development. On 4 November 2020, Mr. Guo Fangqiang was elected as the employee's representative supervisor of the Company at the employee's representative meeting with effect from 4 November 2020 until the expiry of the term of the current session of the Board of Supervisors. At the meeting of the Board of Supervisors held on 4 November 2020, the Board of Supervisors resolved to appoint Mr. Guo Fangqiang as the chairman of the Board of Supervisors, with a term commencing from the date on which such resolution was considered and approved by the Board of Supervisors until the expiry of the term of office of the current session of the Board of Supervisors. In 2019, he joined Zhejiang Zhuji Ruiyuan Machine Tool Group Co. Ltd. and has been its deputy general manager. He has extensive experience in production management and operation.