The board of directors of Zhixin Group Holding Limited announced that Mr. Ding Fulin has resigned as the chief operating officer of the Group with effect from 14 September 2022 due to his personal health reason. Mr. Ding has confirmed that he has no disagreement with the Board and there are no any matters in respect of his resignation that need to be brought to the attention of the holders of the securities of the Company. The Board announced that Mr. Qiu Limiao has been appointed as the Chief Operating Officer with effect from 14 September 2022.

Mr. Qiu, aged 37, joined the Group in December 2013 as the deputy general manager of Xiamen Zhixin Construction Material Group Limited, an indirect wholly-owned subsidiary of the Company. Mr. Qiu was appointed as an executive Director on 2 March 2020, mainly responsible for assisting in the Group's strategic planning and supervision of implementation of the Group's policies. Mr. Qiu completed an administrative management programme at the Nanchang Normal University (formerly known as Jiangxi Institute of Education) in February 2012.

He obtained a bachelor's degree in administrative management (through online learning) from Nankai University in July 2014. He completed a general manager training programme at the School of Economics and Management, Tsinghua University in August 2014. Prior to joining the Group, Mr. Qiu served as an inspector in Shishi Tobacco Monopoly Bureau from December 2008 to June 2013 and was mainly responsible for tobacco case investigation.

Mr. Qiu is a son-in-law of Mr. Ye Zhijie, Chairman of the Board and an executive Director, and brother-in-law of Mr. Ye Dan, an executive Director. As the Chief Operating Officer, Mr. Qiu will be responsible for the overall operation and management of the Group.