The board of directors of China Carbon Neutral Development Group Limited announced that Mr. Lu Xiangyong ("Mr. Lu") has been appointed as an executive Director with effect from 26 September 2023. Mr. Lu, aged 41, graduated from Faculty of Art and Design, Capital Normal University. He has been the art director of Pegasus Media.

Mr. Lu served as the visual image designer for The Spring Festival Gala of Filmmaker, Student Film Festival, China Huabiao Film Awards from 2006 to 2008. Afterwards, Mr. Lu served as the general manager and art director of Love Culture Media and was responsible for the image design of Travel Channel, Huayi Music, Beijing Guohua Electric Power Co. Ltd. and Boao Forum from 2008 to 2023.

Mr. Lu joined Chinese Eco Development Association () in 2013 as the head of the Publicity Department, head of the International Department and the deputy secretary-general. Under the guidance of State Forestry Administration of China, Mr. Lu established the China's forest food certification system and forest medicinal materials certification system. Mr. Lu has established and is operating the China Forest Food Network, and has established and is operating a forest food sales hypermarket on Tmall.

Pursuant to the letter of appointment entered into between Mr. Lu and the Company, the appointment may be terminated by either party giving to the other not less than one-month prior notice in writing and is subject to retirement by rotation and re-election pursuant to the articles of association of the Company. Mr. Lu is entitled to an annual emolument (inclusive of Director's fees and salaries) of HK$360,000 as full remuneration for acting as an executive Director of and holding other positions with the Company or other members of the Group. Such remuneration has been determined by reference to his background, qualifications, experience, level of responsibilities to be undertaken with the Group and prevailing market conditions, and will be reviewed by the Board and the remuneration committee of the Company ("Remuneration Committee") annually.

The Board further announces that and Mr. Wang Jiasi ("Mr. Wang") has been appointed as an independent non-executive Director and a member of the audit committee of the Company with effect from 26 September 2023. Mr. Wang, aged 65, possesses a postgraduate degree. Mr. Wang is currently the Executive Vice Chairman of the China Newspaper Association and the chief expert of the Major Projects of the National Social Science Fund.

He is a recipient of the State Council Special Allowance, the award in the Chinese news industry - the Taofen Award, and is recognized as state-level leading talent of Shenzhen. He is also an outstanding news and publishing entrepreneur in China. Mr. Wang has concurrently served as the Dean of the School of Journalism and Communication at Anhui Normal University, as well as the Professor at China Yan'an Cadre College, China Executive Leadership Academy Pudong, Communication University of China, Anhui University, Xiangtan University, and Anhui Normal University.

He has also held positions as the Deputy Minister of the Propaganda Department of the Anhui Provincial Committee, Secretary of the Party Committee and President of the Anhui Daily Newspaper Group. Additionally, he has served as the Deputy Minister in charge of the work of the Propaganda Department of the Anhui Provincial Committee, concurrently holding the position of Director of the Anhui Provincial Internet Information Office, Chairman of the Anhui Provincial Journalists Association, member of the Anhui Provincial Committee of the Communist Party of China, and member of the Standing Committee of the Anhui Provincial People's Congress.