The Board of directors of Global Bio-chem Technology Group Company Limited announced that, with effect from 31 October 2022, Mr. Liu Shuhang has resigned as an executive Director, the chairman of the executive committee of the Company and an authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited due to his intention to devote more time on his personal affairs. The Board announced that following the resignation of Mr. Liu, Mr. Yang Jian and Mr. Wang Guicheng have been appointed as executive Directors, and Mr. Yang has further been appointed as the chairman of the Board. Mr. Yang, aged 52, graduated from (Jilin Business and Technology College) (formerly known as (Jilin Grain College)) in July 1992, majoring in granary mechanisation.

Mr. Yang graduated from the postgraduate programme of economic management in (The Party School of the Chinese Communist Party Jilin Provincial Committee) in July 1999. Mr. Yang has about 30 years of experience in the food and agricultural industry. From December 1992 to March 2018, Mr. Yang successively served in various provincial units/bodies in Jilin Province's food and agricultural sector, including (Jilin Provincial Food Department), (Jilin Provincial Grain and Oil Information Center), (Jilin Grain Center Wholesale Market), (Jilin Provincial Food Bureau) and (Jilin Provincial Military Grain Supply Management Center).

Since March 2018, Mr. Yang has been serving as the deputy general manager of (Jilin Agricultural Investment Group Co. Ltd.), an indirect controlling shareholder of the Company. Mr. Yang also currently serves as the chairman and party committee secretary in (Jilin Grain Asset Management Co.

Ltd.), a wholly-owned subsidiary of Nongtou. Mr. Wang Guicheng, aged 54, graduated from (Jilin Business and Technology College) (formerly known as (Jilin Grain College) in July 1990, majoring in grain storage and analysis. Mr. Wang has over 32 years of experience in the agricultural industry.

Mr. Wang joined (Changchun Dacheng Corn Development Company Limited), a subsidiary of the Group, as a quality inspection officer in April 1997. Mr. Wang has then served various senior positions in the Group and Global Sweeteners Holdings Limited, a non-wholly- owned subsidiary of the Group and has actively engaged in operational management and the development of production technology. In March 2017, Mr. Wang was appointed as the deputy general manager of the production and operation department of both the Group and the GSH Group, overseeing the overall production operation of the Group and the GSH Group.

In December 2018, Mr. Wang has been promoted to the chief operating officer of both the Group and the GSH Group and has been serving in this capacity since then. The Board announced that following the resignation of Mr. Liu and appointment of Mr. Yang as an executive Director, Mr. Yang has been appointed as the authorised representative of the Company under Rule 3.05 of the Listing Rules with effect from 31 October 2022. The Board further announced that following the appointment of Mr. Yang as the chairman of the Board and executive Director as announced above, Mr. Yang has also been appointed as the chairman of the nomination committee of the Company, and a member of each of the Executive Committee, the remuneration committee of the Company and the corporate governance committee of the Company with effect from 31 October 2022.

Following the appointment of Mr. Wang as an executive Director as announced above, Mr. Wang has also been appointed as the chairman of the Executive Committee, with effect from 31 October 2022.