The Board of Shanghai Industrial Holdings Limited announced that with effect from 30 April 2024: due to the reason of age, Mr. Shen Xiao Chu has resigned as an Executive Director and the Chairman of the Company and the chairman of the Executive Committee of the Company; Ms. Leng Wei Qing has been appointed as an Executive Director and the Chairlady of the Company and the chairlady of the Executive Committee of the Company; Mr. Yao Jia Yong has been appointed as an Executive Director of the Company and a member of the Executive Committee of the Company; Mr. Zhang Qian has been re-designated as an Executive Director and has been appointed as an authorized representative of the Company; and due to deployment of work arrangement, Mr. Shu Dong has resigned as an Executive Director of the Company; and due to deployment of work arrangement, Mr. Yang Qiu Hua and Mr. Zhu Da Zhi, were no longer Deputy CEO of the Company. On the same date, Mr. Lou Jun has been appointed as a Deputy CEO of the Company. Ms. Leng, aged 56, is an executive director and the chairlady of Shanghai Industrial Investment (Holdings) Company Limited, the chairlady of SIIC Shanghai (Holdings) Limited.

Ms. Leng obtained a bachelor's degree in education, an EMBA degree and the qualification of a senior economist. She was the deputy head and the head of the Leading Personnel Management Division of Shanghai Municipal State-owned Assets Supervision and Administration Commission, the vice president of Shanghai Electric (Group) Corporation, a member of the Organization Department, head of the Enterprise Personnel Division, and deputy director of the Organization Department of Shanghai Municipal Party Committee, the head of the office at Shanghai Municipal Organization and Establishment Committee and the chairlady and chief executive officer of Shanghai Electric Group Company Limited. She has extensive experience in corporate governance, operations and management as well as human resources.

Ms. Leng is a member of the 14th National Committee of the Chinese People's Political Consultative Conference and the honorary chairlady of The Hong Kong Chinese Enterprises Association. She was an executive director and the chairlady of Shanghai Electric Group Company Limited from August 2021 to November 2023, the H shares of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the A shares of which are listed on the A Shares Market of the Shanghai Stock Exchange. Mr. Yao, aged 57, is an executive director of Shanghai Industrial Investment (Holdings) Company Limited ("SIIC"), director and the chairman of the trade union of SIIC Shanghai (Holdings) Limited.

Mr. Yao obtained a bachelor's degree in medicine and a master's degree in military. He held various management positions at the Second Military Medical University, and served as deputy director and director of Shanghai Financial Work Party Committee Office, deputy inspector of Shanghai Financial Work Party Committee, secretary general of Shanghai Financial Services Office, director and supervisor of SIIC, vice chairman of Shanghai Pharmaceutical (Group) Co. Ltd. and Shanghai Pharmaceuticals Holdings Co.

Ltd. He has extensive experience in medicine and finance. He was a non-executive director and the vice chairman of Shanghai Pharmaceuticals Holdings Co. Ltd. from June 2023 to March 2024, the H shares of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited and the A shares of which are listed on the A Shares Market of the Shanghai Stock Exchange.

Mr. Lou, aged 52, has been appointed as a Deputy CEO of the Company with effect from 30 April 2024. He is a vice president, secretary to the board and the general manager of the board office of Shanghai Industrial Investment (Holdings) Company Limited ("SIIC") and a vice president of SIIC Shanghai (Holdings) Ltd. He is also the chairman of Nanyang Brothers Tobacco Company, Limited, The Wing Fat Printing Company, Limited and South Pacific Hotel (Hong Kong) Limited and an executive Director of Shanghai Industrial Urban Development Group Limited. Mr. Lou obtained a bachelor's degree in law.

He was a deputy director of the general office of the Foreign Affairs Office of the Shanghai Municipal People's Government (Hong Kong and Macao Affairs Office of the Shanghai Municipal People's Government), a director of the general supervision department of the Standing Committee Office of Shanghai Municipal People's Congress, a deputy general manager and general manager of the administration department of SIIC and a director of SIIC. He is a deputy director of Shanghai Work Safety Association and Shanghai State-owned Enterprise Corporate Governance Association. He has extensive experience in administration and corporate management.

Mr. Zhang, aged 50, is the executive vice president and the chief financial controller of Shanghai Industrial Investment (Holdings) Company Limited, executive vice president of SIIC Shanghai (Holdings) Ltd. and the chairman of Shanghai Galaxy Investment Co. Ltd., SIIC Investment Company Limited, SIIC Shanghai Capital Management Co. Ltd. and SIIC Shanghai Group Finance Limited, and a director of certain other subsidiaries of the Group.

He obtained a bachelor's degree in economics majoring in international corporate management and a master's degree in business administration and holds the designation of a senior economist. Mr. Zhang was a deputy general manager of Shenergy (Group) Co. Ltd. and the deputy general manager and general manager of Shenergy Group Finance Co.

Ltd. Mr. Zhang is currently a vice chairman of Shanghai Young Entrepreneurs Association and Shanghai Enterprise Federation and an executive director of The Hong Kong Chinese Enterprises Association. He has extensive experience in finance and corporate management.