The board of directors of Aoyuan Healthy Life Group Company Limited announced that Mr. Miao Sihua has resigned as the president of the Group with effect from 24 April 2020 and will continue to serve as an executive director of the Company. The Board announced that Mr. Su Bo has been appointed as the President, responsible for overseeing the general management and operation of the Group, with effect from 24 April 2020. The Board hereby announces that, Mr. Xu Xiaodong has tendered his resignation as the chief financial officer of the Company and all other positions held within the subsidiaries and associated companies of the Company due to his other personal commitments, with effect from 24 April 2020.

The Board announced that Mr. Cheng Siu Fai has been appointed as vice president of the Group and Chief Financial Officer with effect from 24 April 2020.