The board of directors of China Hongbao Holdings Limited announced that Mr. Yu Hua (Mr. Yu) has been appointed as an executive Director with effect from 27 February 2023. His biographical details are set out below. Mr. Yu Hua, aged 37, obtained a master's degree in software engineering from
Peking University in July 2011 and has over 7 years of experience in finance and business administration. Mr. Yu has been the chief executive officer of Beijing Sousou Kuaipao Technology Co. Ltd. since October 2015, a company of which Mr. Cheng Jun (the chairman of the Board and an executive Director) is the chairman and chief executive officer and a shareholder. He has also been a chief executive officer and the executive director, general manager and legal representative of Hainan Hongbao Linkage Technology Co. Ltd., an indirect wholly-owned subsidiary of the Company, since July 2022.