The board of directors of Zhengye International Holdings Company Limited announced that in order to meet the needs of the company's development, Ms. Chen Wei (Ms. Chen) has been redesignated from the Chief Executive Officer (CEO) to the Chief Financial Officer (CFO). Ms. Chen is responsible for managing the Group financial Operations and Strategy and Hong Kong head office. Ms. Chen Wei, aged 47, joined Group in 2007.

Ms. Chen is the chief executive officer of the Group and responsible for the management operations in finance, human resources, legal, internal audit, information systems and Hong Kong head quarter of the Group comprehensively. Ms. Chen has over 15 years of experience in financial management and tax services. She served as a financial supervisor in several papermaking enterprises and group companies during the period from 1995 to 2001 and was in charge of accounting and financial management matters.

Prior to joining Group, Ms. Chen served as an account manager and tax consultant in Zhongshan large-scale tax agency from 2005 to 2007. Ms. Chen completed the accounting course of Jinan University in December 2005 and obtained an undergraduate degree. Thereafter, she was awarded the Master of Business Administration degree from the University of Wales in April 2011, and obtained the title of senior accountant awarded by Human Resources Bureau of Guangdong Province in December 2008.

In September 2009, Ms. Chen obtained professional qualification as a senior international finance manager awarded by International Financial Management Association. She is the member of International Financial Management Association. Following the redesignation of Ms. Chen, the Board announced that Mr. Hu Zheng (Mr. Hu) has been appointed as the CEO of the Company with effect from 25 August 2023.

Mr. Hu Zheng, aged 60, he is the Chairman and executive Director and one of the founders. Furthermore, Mr. Hu Zheng is the chairman of the nomination committee and members of the remuneration committee, risk management committee and budget management committee. Mr. Hu Zheng is responsible for overseeing the overall corporate management, operation and development planning and had over 30 years of experience in the paper-making and packaging industries.

Prior to founding Group, Mr. Hu Zheng worked as a technician and as an assistant engineer at a then state-owned paper factory since 1983 then he was a director of a PRC paper and packaging products manufacturing factory, responsible for the management of daily operation and strategic planning from 1990 to 2003. In October 1981, Mr. Hu Zheng graduated from Guangdong Foshan Vocational College (formerly known as Guangdong Foshan Region Agricultural Mechanical College) and completed a Master of Business Administration at the Macau University of Science and Technology in August 2001. Mr. Hu Zheng is the brother of Mr. Hu Hancheng (an executive Director and a substantial shareholder of the Company (the Shareholder) through his interests in Golden Century Assets Limited) and Mr. Hu Hanchao (an executive Director and a substantial Shareholder of the Company through his interests in Leading Innovation Worldwide Corporation).