The board of directors of Coolpoint Innonism Holding Limited announced that Ms. Lin Xiaoling has been re-designated from an independent non-executive director to an executive director of the Company with effect from 4 November 2022, and as a result of the re-designation, she has resigned as a member of the audit committee (the "Audit Committee"), a member of the remuneration committee (the "Remuneration Committee") and a member of the nomination committee (the "Nomination Committee") of the Company. Ms. Lin, aged 36, was re-designated from an independent non-executive director to an executive director of the Company as recommended by the Nomination Committee and approved by the Board. Ms. Lin had been an independent non-executive director of the Company from 28 March 2022 to 3 November 2022.

Ms. Lin obtained a Master of science degree in business administration from The University of Manchester in 2021. Ms. Lin has over 14 years of experiences in banking and finance in Hong Kong. She joined Zurich Life Insurance Company Limited as a consultant in 2006 and was promoted as a business manager in 2008.

From 2009 to 2016, she was the manager working at the wealth management department of The Hongkong and Shanghai Banking Corporation Limited. From 2019 to 2020, she joined Trends Asset Management Limited, a SFC licensed asset management company in Hong Kong, as a relationship director. The Board announced that Mr. Xu Zhi Qiang ("Mr. Xu") has been appointed as an independent non-executive director, a member of the Audit Committee, a member of the Remuneration Committee and a member of the Nomination Committee with effect from 4 November 2022.

Mr. Xu Zhi Qiang, aged 59, is one of the outstanding Chinese gymnastics athletes in the 20th century and has won the World Gymnastics Championships and the World Cup in 1983 and 1986 respectively. He was also one of the runner-up members of the Chinese gymnastics team in the 1984 Olympic Games. Mr. Xu has more than 20 years of experience in various industries including the production and sales of environmentally friendly renewable energy products.

Mr. Xu had served as a director of Pacific Conquest Holdings Inc., a company listed on the OTC Markets, in the United States, between 30 May 2019 and 15 December 2021. Following the redesignation of Ms. Lin as an executive director and appointment of Mr. Xu as an independent non-executive director; (i) Ms. Lin has resigned as a member of the Audit Committee, a member of the Remuneration Committee and a member of the Nomination Committee; and (ii) Mr. Xu has been appointed as a member of the Audit Committee, a member of the Remuneration Committee and a member of the Nomination Committee, with effect from 4 November 2022.