The board of directors of Zhejiang RuiYuan Intelligent Control Technology Company Limited (the Company, together with its subsidiaries, the Group) announced that, with effect from 25 March 2021, (i) Mr. Ding Cheng has resigned as an executive Director, as he would like to devote more time on his other personal career development; and (ii) Ms. Zou Jing (Ms. Zou) has been appointed as an executive Director. Mr. Ding Cheng has confirmed in his letter of resignation that he has no disagreement with the Board, and there is no other matters in relation to his resignation that need to be brought to the attention of the holders of securities of the Company. Ms. Zou Jing was appointed as the deputy general manager of the Company since May 2017 and was further appointed as a joint company secretary of the Company since February 2018. She is responsible for the daily operation and management and the company secretarial affairs of the Company. Ms. Zou joined Zhejiang RuiYuan Machine Tool Co. Ltd. in August 2008 and served as its minister of investment operations department, vice-minister of the treasury department, head of finance department and the minister of finance management department.