The board of directors of CWT International Limited announced that in order to focus on the financial management work of the Company, Ms. Yan Shen has resigned as an executive director of the Company with effect from 7 August 2023, and ceased to be a member of the executive committee of the Board and an alternate authorised representative of the Company for the purpose of Rule 3.06 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. She will remain as the chief financial officer of the Company. The Board announced that Mr. Xu Xu is appointed as an Executive Director, as well as a member of the Executive Committee with effect from 7 August 2023.

Mr. Xu, aged 38, holds a master's degree in Hotel and Tourism Management from The Hong Kong Polytechnic University. Mr. Xu joined Deer Air Co. Ltd. (now known as Beijing Capital Airlines Co.

Ltd. under HNA Group Co. Ltd. in 2007 and has served several senior positions for its certain companies. Mr. Xu is currently the head of board of directors' office of Hainan HNA No.2 Trust Management Service Co.

Ltd. Mr. Xu has extensive management knowledge and working experience in the fields of administration and human resources. With effect from 7 August 2023, the members of the Board and the membership of the five committees of the Board are as follows: Members of the Board: Executive Directors: Wang Kan (Chairman and Chief Executive Officer), Zhao Quan, Peng Biao, Xu Xu. Independent Non-executive Directors: Leung Shun Sang, Tony, Liem Chi Kit, Kevin, Lam Kin Fung, Jeffrey.

Audit Committee: Liem Chi Kit, Kevin, chairman; members: Leung Shun Sang, Tony and Lam Kin Fung, Jeffrey. Executive Committee: Wang Kan, chairman; members: Peng Biao and Xu Xu. Independent Investigation Committee: Liem Chi Kit, Kevin, chairman; members: Leung Shun Sang, Tony and Lam Kin Fung, Jeffrey.

Nomination Committee: Wang Kan, chairman; members: Leung Shun Sang, Tony, Liem Chi Kit, Kevin and Lam Kin Fung, Jeffrey. Remuneration Committee: Liem Chi Kit, Kevin, chairman; members: Wang Kan, Leung Shun Sang, Tony and Lam Kin Fung, Jeffrey.