The board (the "Board") of directors of Mabpharm Limited announced the following changes in composition of the Board. RESIGNATION OF DIRECTORS: With effect from November 28, 2023, Mr. Guo Jianjun ("Mr. Guo") will resign as a non-executive Director due to age concern and Dr. Li Jing ("Dr. Li") will resign as an executive Director in order to devote more time to her other personal commitments. APPOINTMENT OF DIRECTORS: With effect from November 28, 2023, Dr. Hou Sheng ("Dr. Hou") and Dr. Qian Weizhu ("Dr. Qian") will be appointed as an executive Director and non-executive Director respectively.

Dr. Hou Sheng, aged 46, has over 20 years of experience in oncology and biology fields. Dr. Hou served as an assistant researcher and associate researcher and was employed at translational medical research department on tumor cell biology of Second Military Medical University (currently known as People's Liberation Army Navy Medical University from May 2008 to March 2016. From May 2008 to August 2012, Dr. Hou served as an assistant researcher and associate researcher at National Engineering Research Center for Antibody Medicine.

From September 2012 to February 2021, Dr. Hou served as a deputy director and associate researcher at State Key Laboratory of Antibody Drugs and Targeted Therapy. From April 2021 to July 2023, Dr. Hou was the chairman of the board of directors and general manager of Wuhan Guojian Baiao Pharmaceutical Co. Ltd. Dr. Hou is the spouse of Dr. Qian.

Dr. Hou obtained his bachelor's degree in medicine from Second Military Medical University (currently known as People's Liberation Army Navy Medical University in June 2000, and was awarded his master's and doctorate degrees in oncology from the aforementioned university in June 2005. Dr. Hou received second prize in State Technological Invention Award in 2007, first prize in Shanghai Science and Technology Award two times in 2006 and 2011 respectively, and second prize in Shanghai Technology Invention Award. Dr. Qian Weizhu, aged 48, currently serves as the vice president of Shanghai Biomabs Pharmaceuticals Co.

Ltd. ("Biomabs") and the consultant of the Company. Dr. Qian has more than 25 years of experience in oncology and biology fields. Dr. Qian was employed at the Cancer Institute of Second Military Medical University (currently known as People's Liberation Army Navy Medical University from 1994 to 2013, primarily responsible for biotechnology research and development.

Dr. Qian consecutively served as deputy general manager and general manager of Shanghai Zhangjiang Biotechnology Co. Ltd. from January 2014 to July 2017. Dr. Qian worked as a director and general manager in Biomabs from October 2015 to August 2018 and from December 2020 to October 2023.

Dr. Qian also served as general manager in Shanghai Sinomab Biotechnology Co. Ltd. from February 2016 to August 2018. Dr. Qian was a legal representative of Shanghai Guojian Biotechnology Research Institute from February 2015 to September 2018.

Dr. Qian joined the Group in February 2015, and served consecutively as a director and chairman of the board of directors in Taizhou Mabtech Pharmaceutical Limited ("Taizhou Pharmaceutical") from February 2015 to October 2020, during which she had been deputy general manager and general manager of Taizhou Pharmaceutical consecutively from February 2015 to August 2018. Dr. Qian served as the executive director and chief executive officer of the Company from July 2018 to October 2020. Dr. Qian is the spouse of Dr. Hou.

Dr. Qian obtained a master's degree in biochemistry and molecular biology in June 2003 from Second Military Medical University (currently known as People's Liberation Army Navy Medical University) and was awarded a doctorate degree in oncology in June 2011 from the aforementioned university.