The board of directors of Royale Home Holdings Limited announced that Mr. Yang Jun ("Mr. Yang") has resigned as the chief executive officer of the Company with effect from 1 December 2023 due to his other business commitments. The Board announced that Mr. Lin Ruhai ("Mr. Lin") has been appointed as the CEO with effect from 1 December 2023. Mr. Lin Ruhai, aged 41, is currently the chairman of the board of directors of Guangzhou Science City Venture Capital Co.

Ltd., which is a subsidiary of Science City (Guangzhou) Investment Group Co. Ltd., a controlling shareholder of the Company. He was also the general manager of the same company from 2018 to 2023.

From 2016 to 2018, he was the deputy general manager of the financial department of Guangzhou Hi-tech Investment Group Co. Ltd. and the general manager of Guangzhou Guoju Risk Investment Co. Ltd. He worked with China Construction Bank (Guangzhou Development Zone Branch) as a client manager from 2006 to 2016.

Mr. Lin has over a decade of experience in corporate management and equity investment. Mr. Lin graduated from Zhejiang Normal University in the People's Republic of China (the "PRC") with a bachelor's degree in management (major in business administration) in 2018 and holds the qualification of a licensed fund practitioner in the PRC.