Southwest Securities International Securities Limited announced that, Dr. Guan Wenwei has resigned from his role as an independent non-executive director of the Company with effect from 1 November 2022 due to his desire to devote more time to his personal affairs. announce that Mr. Cao Ping has been appointed as an independent non-executive director, the chairman of the remuneration committee, a member of the audit committee and a member of the nomination committee of the Company with effect from 1 November 2022. Mr. Cao, aged 54, is currently a solicitor, partner and director of Chongqing Senswins Solicitors He was re-elected as the chairman of the Chongqing .

Branch of the British Chamber of Commerce Southwest China, and the director of foreign- related professional committee of the Chongqing Lawyers Association and WTO. Mr. Cao has been the director of mediation professional committee of the Chongqing Lawyers Association since 2020; he has been the secretary-general of the Chongqing Liangjiang International Business Mediation Centre since 2021. After obtaining a master's degree in English from Sichuan International Studies University in 1992, Mr. Cao obtained the qualification to practice law in China in 1995.

In 1999, he attended the School of Oriental and African Studies at the University of London and received his training at Clifford Chance, Fountain Court Chambers, and Gallant in Hong Kong. Since then, Mr. Cao has served as a solicitor and partner of Z & Z Law Firm in Chongqing, a solicitor in the Guangzhou representative office of Pinsent Masons in United Kingdom, and a solicitor of in the Shanghai representative office of Cameron Mckenna. Mr. Cao continued his studies at Temple University Beasley School of Law in the United States and Tsinghua University in 2015 and became a member of the All China Lawyers Association's leading foreign lawyer talent pool in 2015.

He joined the All China Lawyers Association's One Belt One Road Lawyers Expert Bank in 2016. Mr. Cao has over 20 years of rich experience in foreign-related legal affairs, international finance, foreign trade, energy, domestic and foreign infrastructure, real estate development and other fields. The Board announces that, as Dr. Guan resigned as an independent non- executive director, he ceased to be the chairman of the remuneration committee, a member of the audit committee and a member of the nomination committee of the Company.

The Board further announces that Ms. Yiu Yi Ting has resigned from her roles as the company secretary of the Group and ceased to be an authorised representative of the Company under the Rules Governing the Listing of Securities on Hong Kong Stock Exchange no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the Hong Kong Stock Exchange or the holders of securities of the Company. The Board further announces that Ms. Li Peihua has been appointed as the company secretary of the Company and an authorised representative under the Listing Rules, with effect from 1 November 2022. Ms. Li graduated from Hong Kong University of Science and Technology in 2012 with a Master of Arts in Social Sciences.

Ms. Li is an associate of he Hong Kong Chartered Governance Institute (formerly known as the Hong Kong Institute of Chartered Secretaries) and the Chartered Governance Institute (formerly known as the nstitute of Chartered Secretaries and Administrators). Ms. Li has extensive experience n company secretarial, corporate governance, investor relations matters and corporate management.