The board of directors of China Carbon Neutral Development Group Limited hereby announced that Mr. Lam Po Foon (Mr. Lam) has resigned as non-executive Director due to time constraints and his intention to focus on his other business commitments, with effect from 30 September 2023. The Board further announced that Mr. Chen Xinwei (Mr. Chen) has resigned as executive Director of the company with effect from 2 October 2023. The company is currently in the course of identifying a suitable candidate to be appointed to the role of Chief Executive Officer of the company and further announcement will be made as and when appropriate.

Mr. Sha Tao, an executive Director and the chairman of the company, will take up the responsibilities of Mr. Chen and lead the company during this transitional period.