The board of directors of China Resources Medical Holdings Company Limited announced that Mr. CHENG Libing ("Mr. CHENG'') has resigned, with effect from February 27, 2023, as the chief executive officer of the Company and an authorized representative of the Company due to personal pursuit. Mr. CHENG has confirmed that he has no disagreement with the Board and that there is no matter in respect of his resignations which needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. The Board announced that Mr. YU Hai (``Mr. YU'') has been appointed as an executive Director and the chief executive officer of the Company with effect from February 27, 2023.

Mr. YU, aged 55, is currently the general manager of China Resources Health Group Limited, and served as the vice chairman and senior vice general manager of China Resources Health Group Limited from January 2020 to February 2023 and as the chairman of Liaoning Healthcare Industry Group Co. Ltd. from July 2018 to January 2020. Mr. YU worked in Benxi Municipal Government, Liaoning Province from July 2008 to July 2018, and served as the deputy mayor of Benxi City etc.

Prior to that, Mr. YU held various positions at government departments including the deputy director of the Social Development Division of the Department of Science & Technology of Liaoning Province, the deputy director of the High-tech Development and Industrialization Division of the Department of Science & Technology of Liaoning Province, the deputy director of the Bureau of Science and Technology of Nagchu District, the Tibet Autonomous Region, and the principal officer of the Industrial and Social Development Division, the Scientific and Technological Commission of Liaoning Province etc. Mr. YU holds a doctor of science degree in pharmaceutical affairs management from the School of Pharmacy, Shenyang Pharmaceutical University. Mr. YU has entered into a service agreement with the Company for a term of three years commencing from February 27, 2023, which can be terminated by either party by giving to the other party not less than one month's notice in writing.

Mr. YU shall not receive any basic salary from the Company as an executive Director, but the Board has resolved that Mr. YU shall be entitled to the discretionary bonus at the sole and absolute discretion of the Board and the remuneration committee of the Company (``Remuneration Committee'') (depending on the Board's corporate goals and objectives, salaries paid by comparable companies, time commitment, responsibilities, employment conditions and performance of the Company and the individual Director). The aforesaid proposal on the emolument of Mr. YU was determined by the Board, upon recommendation by the Remuneration Committee with reference to the prevailing market situation and his duties and responsibilities to the Group. Pursuant to the articles of association of the Company, Mr. YU will hold office as an executive Director until the next general meeting of the Company and will be subject to the retirement by rotation and re-election at that meeting.