YanGuFang International Group Co., Ltd. announced that the Company has been informed by the family members of Mr. Junguo He, the Chief Executive Officer (the ?CEO?) and Chairman of the Board of Directors (the ?Board?) of the Company that the CEO have been detained by certain Public Safety Bureau of Shanghai, China (?Shanghai Police?), and are currently under investigation by said Shanghai Police. As of the date of this announcement, the Company has not received any official notice of the investigation against Mr. He or the respective reasons for their detainment. As Mr. He is presently unable to fulfill their respective roles as CEO of the Company, the Board appointed Mr. Ya Zhang, currently the Chief Operating Officer of the Company, as Interim CEO of the Company, effective as of January 9, 2024.

Mr. Zhang, having served as the Chief Operating Officer of the Company since December 2021, is familiar with the business operations of the Company and has over ten years of experience in business management. The interim management team will manage the Company?s operations under the Board?s direction. As of the date of this announcement, the business and the daily operations of the Company are being conducted in ordinary course and in an orderly manner.