The board of directors of Zhengwei Group Holdings Company Limited announced that each of Mr. Li Taihong and Mr. Lee Kwok Tung Louis has resigned as an independent non-executive Director with effect from 29 February 2024 due to their other business engagements requiring more of time. The Board announced that Mr. Hu Ruiwo and Mr. Ye Sangzhi have been appointed as independent non-executive Directors with effect from 29 February 2024. Mr. Hu, aged 37, has more than 17 years of experiences in business management.

He is currently the general manager of Shenzhen Pinganlu Industrial Company Limited. Mr. Hu obtained a bachelor's degree in Information Management and Information System from Beijing Institute of Technology in 2020. Mr. Ye, aged 45, has more than 17 years of experiences in finance, business development and business management.

He is currently the general manager of Jiangxi Youju Industrial Company Limited. Mr. Ye obtained a bachelor's degree in Accounting from Shanghai University of Finance and Economics in 2007. Immediately upon the resignations of Mr. Li Taihong and Mr. Lee Kwok Tung Louis and the appointments of Mr. Hu and Mr. Ye, the Board also announces that with effect from 29 February 2024, the composition of the audit committee of the Company, the nomination committee of the Company and the Remuneration Committee has been changed as follows: Mr. Li Taihong has ceased to be the chairman of the Remuneration Committee, the chairman of the Nomination Committee and a member of the Audit Committee; Mr. Lee Kwok Tung Louis has ceased to be a member of the Audit Committee; Mr. Hu has been appointed as the chairman of the Remuneration Committee, the chairman of the Nomination Committee and a member of the Audit Committee; and Mr. Ye has been appointed as a member of the Audit Committee.