Yida China Holdings Limited announced that (i) Mr. Ni Jie ("Mr. Ni") has resigned as a non-executive Director; and (ii) Mr. Wang Yinping ("Mr. Wang") has resigned as an independent non-executive Director, both with effect from 31 March 2023 as they would like to devote more time to their respective personal commitments. Following Mr. Wang's resignation, he will also cease to be the chairman of the remuneration committee (the "Remuneration Committee") and member of the nomination committee (the "Nomination Committee") and audit committee (the "Audit Committee") of the Company. Each of Mr. Ni and Mr. Wang has confirmed that there is no disagreement with the Board and there are no other matters that need to be brought to the attention of the shareholders of the Company or Stock Exchange in relation to their respective resignation. The Board also announces that following Mr. Wang's resignation, Mr. Guo Shaomu, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee with effect from 31 March 2023. The Board announced that with effect from 31 March 2023, Mr. Yuan Wensheng ("Mr.Yuan") has been appointed as an executive Director and Mr. Weng Xiaoquan ("Mr. Weng") has been appointed as a non-executive Director. The biographical details of Mr. Yuan and Mr. Weng are set out as follows: Mr. Yuan, aged 53, obtained a bachelor's degree in industrial electrical automation from Shandong University of Science and Technology in 1993, a bachelor's degree in international trading from Nanjing University in 1995 and a master's degree in business management from Beijing University in 2009. From July 1995 to January 2001, Mr. Yuan worked at the international business department and trading and financing department of China Construction Bank (Shandong branch). From February 2001 to January 2002, he worked as the trading and financing manager of the international business department of China Merchants Bank (Jinan branch). From February 2002 to November 2006, he worked as the general manager of the international business department and marketing department of Shenzhen Development Bank (Jinan branch). From December 2006 to July 2013, Mr. Yuan joined China Minshang Bank as a senior risk management specialist (deputy general manager of head office department). He was in charge of the policy and portfolio management center, industry research center, product risk management center and operational risk management center. From August 2013 to June 2017, Mr. Yuan worked as the general manager of the strategic planning department at the head office of Ping An Bank. From September 2018 to January 2023, Mr. Yuan joined China Minsheng Investment Corp. Ltd. ("China Minsheng" and together with its subsidiaries, the "China Minsheng Group"), a controlling shareholder of the Company, and successively served as the deputy director of the new business research centre, executive director of the investment management team and deputy general manager of the assets and operations centre. Mr. Yuan is a qualified lawyer and senior economist in the People's Republic of China ("PRC"). Mr. Weng, aged 41, obtained a bachelor's degree in foreign languages and literatures from Beijing Normal University in 2004 and a master's degree in accounting from University of International Business and Economics in 2007. From July 2007 to April 2010, Mr. Weng worked as a senior auditor at PricewaterhouseCoopers Zhong Tian LLP. From April 2010 to December 2014, he worked as the deputy general manager of the finance department of Zhong Guang He Solar Energy Development Co. Ltd. From December 2014 to February 2017, Mr. Weng worked as the general manager of the finance department at the headquarters of Zhongmin Xinneng Investment
Group Co. Ltd.("CMIG New Energy"), a member of the China Minsheng Group. From February 2017 to August 2018, he worked as the finance director of the general manager department of Zhongmin Energy Control Co. Ltd. In August 2018, Mr. Weng re-joined CMIG New Energy and successively worked as the general manager of the investment management department, assistant to president, general manager of the enterprise development department, and is currently serving as the deputy president of the general manager department. Since September 2022, Mr. Weng has been serving as the deputy general manager of the finance management centre at the headquarters of China Minsheng. Mr. Weng is a qualified intermediate accountant in the PRC.