MingZhu Logistics Holdings Limited announced that on June 28, 2022, Yanhong Xue resigned as a director. Ms. Xue's resignation was for personal reasons and was not due to any disagreement with the Company. On August 2, 2022, the board of directors of the Company appointed Yuzhou Wang to serve as a member of the Board and a member of each of the three independent committees of the Board (i.e., the audit committee, compensation committee and nominating and corporate governance committee), effective immediately.

On the same day, To Wai Suen was pointed as the Chair of the audit committee of the Board. The Board has determined that Mr. Suen qualifies as an “audit committee financial expert,” as defined under rules and regulations of the U.S. Securities and Exchange Commission. Mr. Wang, age 42, has over 19 years' experience in finance and accounting.

From September 2020 to current, Mr. Wang has served as the VP of the international financial department of Nanjing Xinjiekou Department Store Co. Ltd., d/b/a Cenbest, or Nanjing Cenbest Co. Ltd. (600682).

From January 2019 to August 2020, Mr. Wang served as the CEO of Shanghai Yisheng Financial Consulting Ltd. From July 2014 to December 2018, Mr. Wang served as the VP of financial department of Nanjing Sanpower Group. From November 2010 to August 2014, Mr. Wang served as the VP of financial department of Zhengxing Wheel Group Co. Ltd. From September 2005 to October 2010, Mr. Wang served as an audit manager of Shanghai Deloitte Huayong Certified Public Accountants Co.

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