Wisdom Sports Group announced that at its AGM held on 28 June 2023, the shareholders approved appointment of Dr. Shen Wei as an executive director and a member of the remuneration committee of the company with effect from the conclusion of the AGM. Dr. Shen Wei, aged 59, was previously appointed as an executive director of the company on 16 May 2014 and was also appointed as the senior vice president of the company on 7 April 2016. Before that, he was appointed as the vice president of the company on 16 December 2013 and acted as the president of the company from 24 March 2015 to 7 April 2016.

He was mainly responsible for the management of the company. Dr. Shen retired as an executive director of the company with effect from 1 June 2017 and was appointed as the company's chief financial officer with effect from 16 June 2017. Dr. Shen has worked in large state-owned enterprises for many years and has more than 29 years of experience in the automobile industry.

He served as a deputy general manager of Dongfeng Yulong Automobile Company Limited, general manager of Xiamen King Long United Automotive Industry Co. Ltd. and general manager of King Long Rubber Limited of Xiamen Motor Co. Ltd. Dr. Shen obtained his master's degree in management science and engineering from Xiamen University and his doctorate's degree in management science and engineering from Huazhong University of Science and Technology.

Mr. Song Hongfei (Mr. Song) did not offer himself for re-election due to his other business commitments and shall retire by rotation at the AGM. Accordingly, Mr. Song ceased to be an executive director and a member of the remuneration committee of the company with effect from the conclusion of the AGM. Nonetheless, Mr. Song will remain as the president of the company.