Bright Scholar Education Holdings Limited announced changes in its board of directors. Ms. Huiyan Yang, who had served as the chairperson of the Company since its inception, informed the Company that she intended to resign from the Board as its chairperson and a member of the nominating and corporate governance committee and the compensation committee of the Company for personal reasons. Ms. Yang's resignation did not result from any disagreement with the Company on any matter relating to the Company's operation, polices or practices.

Bright Scholar thanks Ms. Yang for her efforts and contributions to the Company. The Board has accepted Ms. Yang's resignation, effective on November 30, 2022. The Board has nominated Mr. Hongru Zhou as a director and chairman of the Board and a member of the Nominating Committee and the Compensation Committee, effective on November 30, 2022.

Mr. Zhou expressed that he is dedicated to serving the Company and continuing to create values for the shareholders of the Company. Mr. Zhou is a co-founder of Country Garden Venture Capital and has served as its chief executive officer and chairman of investment committee since its inception in 2019. Mr. Zhou joined Country Garden Holdings Company Limited in 2015 and served as special assistant to the chairman of its board.

Prior to that, Mr. Zhou served as a hedge fund analyst at Bear Stearns Asset Management Inc. from 2007 to 2008. He was also an analyst at RBS Global Banking and Markets from 2008 to 2009, and an assistant fund manager at China Merchants Fund Management Co. Ltd. from 2009 to 2011.

Mr. Zhou holds a bachelor's degree in applied mathematics and economics from Harvard University. Upon the effectiveness of Mr. Zhou's appointment and Ms. Yang's resignation, the Board consists of six directors, including three independent directors.