The board of directors of Zheng Li Holdings Limited announces that Mr. YAN Jianqiang has resigned as the co-chairman of the Board, executive Director, and a member of each of the remuneration committee of the Company (the Remuneration Committee), nomination committee of the Company (the Nomination Committee) and risk management committee of the Company (the Risk Management Committee) with effect from 9 February 2022 as he intended to focus on his other business commitment. The Board further announces that Mr. WANG Lei (Mr. Wang) has been appointed as the co-chairman of the Board, executive Director, and a member of each of the Remuneration Committee, Nomination Committee and the Risk Management Committee with effect from 9 February 2022. Mr. WANG Lei, aged 34, has more than seven years of management in companies engaged with online and technology businesses.

Since 2017, Mr. Wang has become the general manager of Beijing Zhicai Technology Company Limited.