The board of directors of WEIYE HOLDINGS LIMITED announced that Mr. Zhang Wei (Mr. Zhang) has resigned as chief executive officer of the Company (CEO). Following the resignation of Mr. Zhang, Mr. Hong Junli (Mr. Hong) has been appointed as the CEO and the director and legal representative of Jinwei (Henan) Trading Limited Company, a wholly-owned subsidiary of the Company, with effect from 15 November 2022. Mr. Hong, aged 49, was a vice president of the Company prior to his appointment as the CEO and was mainly responsible for the Group's administrative and risk management.

Mr. Hong has over 25 years of experience in the real estate industry. He joined the Group in November 2003 and held the various positions in the Group with the latest position of a vice president of the Company. Mr. Hong graduated from Zhejiang University in Hangzhou City, Zhejiang Province, the PRC, with a master degree in business administration in December 2019.

Mr. Hong has also been awarded the professional qualification certificate in accountancy by the Ministry of Finance of China.