The Board of Kingsoft Corporation Limited announced that Mr. Chi Ping LAU (Mr. LAU) has tendered his resignation as a non-executive Director and a member of the Nomination Committee of the Company with effect from 23 August 2022 due to other work arrangements. The Board further announced that Mr. Leiwen YAO (Mr. YAO) has been appointed as a non-executive Director and a member of the Nomination Committee of the Company with effect from 23 August 2022. Mr. Leiwen YAO, aged 40, is a non-executive Director of the Company.

He is also a Vice General Manager of the Investment Department in Tencent Holdings Limited. He joined Tencent in 2011 as a senior investment manager, and was promoted to the Vice General Manager of the Investment Department in Tencent in 2018, responsible for managing the investment, merger and acquisition activities in the high-tech and enterprise services sectors. Prior to joining Tencent, he was an investment director at Mindray, a global medical instrumentation developer, manufacturer and marketer, in charge of merger and acquisition activities in the healthcare sector.

Prior to that, he worked at Deutsche Bank as an investment associate. Mr. YAO received his bachelor's degree in Economic Information Management and a master's degree in Finance from the University of International Business and Economics, and his master's degree in Business Administration from Institut Européen D'administration des Affaires (INSEAD). Mr. YAO has entered into a service contract as a non-executive Director with the Company for a term of 3 years from 23 August 2022.

He is also subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company. Under the service contract, Mr. YAO will not receive Director's emoluments.