On July 20, 2022, the Company's board of directors appointed Ms. Shasha Mi as a director, and the Chairperson of the Board of Directors of the Company. The appointment intends to fill the vacancy created by Ms. Wenxiu Zhong's departure. Ms. Shasha Mi has served as the Company's Chief Executive Officer, the Chairperson of the Board of Directors, and director since July 2022.

Ms. Shasha Mi has more than ten years of management experience in the online advertising industry. Since August 2017, Ms. Shasha Mi has served as the Chief Executive Officer of Beijing Baosheng Network Technology Co. Ltd. (“Baosheng Network”), a limited liability company formed in the People's Republic of China (the “PRC” or “China”) and an indirect wholly-owned subsidiary of the Company, and is responsible for designing business strategies for Baosheng Network, overseeing the execution of business strategies, and managing the daily operations of Baosheng Network.

From August 2016 to June 2017, Ms. Shasha Mi served as the vice president at Jiangsu Wansheng Weiye Network Technology Co. Ltd., an online adversiting company in the PRC. From May 2012 to July 2016, Ms. Shasha Mi served as the sales director at Beijing Qihoo Technology Co.

Ltd. Ms. Shasha Mi obtained her bachelor's degree in accounting from Beijing Union University in 2008. Ms. Mi is pursing her master's degree in business adminsitration from Tsinghua University and expects to obtain her degree in 2023.