The board of directors of Luye Pharma Group Ltd. announced that Dr. Lyu Dong has been appointed as a non-executive director of the Company with effect from 6 December 2023. Dr. Lyu, aged 48, is currently a Managing Director at Hillhouse Investment Management Ltd. and has been a member of the healthcare private equity team since 2020. He has more than 20 years of experience in financial services and healthcare administrations.

Prior to joining Hillhouse Investment Management Ltd., he was a Managing Director of PAG, an Asia-focused private equity fund based in Hong Kong. Prior to that, he worked at the healthcare investment department of CITIC PE, a China- focused private equity fund based in Beijing. He started his career at the Center for Drug Evaluation of State Food and Drug Administration as a division director.

Dr. Lyu obtained his Ph.D. of Science from Chinese Pharmaceutical University, Master of Science from Peking University and Bachelor of Science from Beijing Medical University. Dr. Lyu was a non-executive director of Clover Biopharmaceuticals Ltd., a company listed on The Stock Exchange of Hong Kong, from March 2021 to October 2022, Jacobio Pharmaceuticals Group Co. Ltd., a company listed on the Stock Exchange, from November 2020 to August 2023 and Keymed Biosciences Inc., a company listed on the Stock Exchange from April 2021 to March 2022, and was a director of InventisBio Co.

Ltd., a company listed on the Shanghai Stock Exchange, from December 2020 to June 2023. Dr. Lyu has been a non-executive director of Genor Biopharma Holdings Limited, a company listed on the Stock Exchange, since November 2021. The Board further announces that Mr. Sun Xin has resigned as a non-executive director of the Company with effect from 6 December 2023 due to other work commitments.