The board of directors of C&D International Investment Group Limited announced that Mr. Wang Wenhuai has resigned his position as a non-executive Director as he wishes to devote more time on his other business engagements; and Mr. Zheng Yongda has been appointed as a non-executive Director with effect from 10 May 2023. Mr. Zheng, aged 52, joined Xiamen C&D Corporation Limited in 1993, and is currently the deputy secretary of the party committee, a director and the general manager of Xiamen C&D and the secretary of the party committee and the chairman of Xiamen C&D Inc. and a vice chairman of Red Star Macalline Group Corporation Ltd., a director of C&D Real Estate Corporation Limited, a director of Lianfa Group Company Limited and a director of some other subsidiaries of Xiamen C&D and C&D Inc. (not of the Group). He has served as positions such as the general manager of Xiamen C&D Paper & Pulp Co.

Ltd., the deputy secretary of the party committee, the standing vice general manager and the general manager of C&D Inc. and the deputy general manager of Xiamen C&D. Mr. Zheng graduated from Xiamen University with a Bachelor's degree in Economics, majoring in international trade, in July 1993. Mr. Zheng has entered into a service agreement with the Company. Under the service agreement, his tenure of office will take effect on 10 May 2023 for a term of three years, which will be automatically renewed for one year from the next day upon expiry of each term.

The appointment of Mr. Zheng as the non-executive Director is subject to retirement by rotation and re-election by Shareholders at the upcoming annual general meeting of the Company according to the articles of association of the Company. Mr. Zheng will not receive any Director's emolument as a non-executive Director but may be entitled to such discretionary bonus and/or other benefits as may be determined by and at the sole discretion of the Board upon the recommendation of the remuneration committee of the Board from time to time.