The board of directors of Xinhua Winshare Publishing and Media Co., Ltd. announced with deep sorrow that Mr. Li Xu, an independent non-executive Director of the Company, the chairman of the Remuneration and Review Committee and a member of the Nomination Committee of the Board, passed away on 9 April 2024 due to an illness. Mr. Li was an independent Supervisor of the Company from 18 February 2016 to 24 January 2022 and had been an independent non-executive Director of the Company since 24 January 2022. As an independent non-executive Director of the Company, Mr. Li had been diligent, responsible and proactive, and had made valuable contributions to the Company during his tenure of office.

Following the passing away of Mr. Li, the Company has two independent non-executive Directors and the number of independent non-executive Directors has fallen below the minimum number of three, which fails to meet the requirements of Rules 3.10(1), 3.10A, 3.25 and 3.27A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The business operations of the Company are not affected. The Board will, as soon as practicable and on a best effort basis, identify and appoint a new independent non-executive Director, the new chairman of the Remuneration and Review Committee and a new member of the Nomination Committee within the timeframe as required under Rules 3.11 and 3.27 of the Listing Rules.