China Saite Group Company Limited announced that, with effect from 16 December 2021, Mr. Li Xulin shall step down as Chief Executive Officer but will remain as the chairman of the Board, an Executive Director, the Chairman of the nomination committee of the Company and an authorised representative of the Company. The Board further announced that Mr. Shan Hu, an executive Director, has been appointed to succeed Mr. Li as the CEO of the Company with effect from 16 December 2021.