The board of directors of AGTech Holdings Limited announced that with effect from December 20, 2021, Mr. Li Faguang (Mr. Li) has resigned as a non-executive director to focus on his engagements in other businesses of Alibaba Group. The board announced that Mr. Liu Zheng (Mr. Liu) has been appointed as a non-executive director with effect from December 20, 2021. Mr. Liu has been the chief financial officer of Cainiao Network since February 2016. Mr. Liu served as the Senior Finance Director with Alibaba Group and was responsible for the financial operations of Tmall, Taobao and Alibaba.com from June 2010 to February 2016.