The board of directors of Sipai Health Technology Co., Ltd. announced that, Mr. ZHANG Ziquan tendered his resignation as a non-executive director of the Company and a member of the strategy committee of the Company with the effect from May 10, 2023, as he would like to devote more time to his personal business engagements. Mr. Zhang has confirmed that he had no disagreement with the Board and there is no other matter relating to his resignation from his positions in the Company that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. The Board announced that Mr. FAN Xin has been appointed as an independent non-executive director of the Company, a member of the nomination committee of the Company and a member of the audit committee of the Company with the effect from May 10, 2023.

Mr. FAN Xin, aged 44, has served as the chief financial officer of Bilibili Inc. since September 2017 and its vice president of finance since April 2016. Prior to that, Mr. Fan served as a finance director at NetEase Inc. from 2011 to 2016. Prior to 2011, Mr. Fan held various positions at KPMG Huazhen for an aggregate of eight years and served as a senior manager there from 2008 to 2011.

Mr. Fan served as an independent director of UP Fintech Holding Limited from March 2019 to November 2022 and Gaotu Techedu Inc. (formerly known as GSX Techedu Inc.) from May 2019 to September 2021. Mr. Fan received his bachelor's degree in international accounting from Shanghai University of Finance and Economics in 2001. Mr. Fan is a regular member of the American Institute of Certified Public Accountants and a certified public accountant in China.

He also holds licenses as chartered global management accountant and chartered certified accountant in the United Kingdom.