Beijing Jingkelong Company Limited announced that Mr. Zhang Hongbo, an existing executive Director of the Company, has tendered his resignation as a shareholder representative Director with effect from 1 July 2024, and concurrently at the employee representative's meeting held, been democratically elected by the employees of the Company as an employee representative Director of the current session of the Board with effect from 1 July 2024. Accordingly, with effect from 1 July 2024, Mr. Zhang Hongbo will be re-designated from his current capacity as a Director elected by the Shareholders to his new capacity as an employee representative Director and continue to serve as an executive Director of the seventh session of the Board. Mr. Zhang Hongbo, aged 54, is an assistant general manager of the Company, the director, chairman of the board of directors and the legal representative of Beijing Jingkelong (Langfang) Company Limited.

Mr. Zhang obtained a bachelor's degree from China University of Geosciences. From November 1992 to October 1997, Mr. Zhang was the deputy manager of executive office of the Silk Import & Export Group Company of Hubei Province. From October 1997 to March 2003, he served as the manager of the information department of Shenzhen China Resources Supermarket Company Limited.

From March 2003 to March 2006, he was the chief information officer and the manager of the information center of the Company. From June 2006 to August 2015, he was the assistant to the manager and the chief information officer of the Company. Since August 2015, he has been the assistant general manager of the Company.

Mr. Zhang has served as an executive Director since October 2023. The board of directors also announced that, according to "The Company Law of the People's Republic of China " which will be in force on 1 July 2024 (the "New Company Law"), a joint stock limited company may, in accordance with its articles of association, instead of having set up a supervisory committee, establish an audit committee which comprises directors of the board of directors and exercises the functions of the supervisory committee. As set out in the Circular, the proposed amendments to the Articles included, among other things, the removal of the requirement of establishing a supervisory committee.

Hence, following the approval by the Shareholders at the 2023 Annual General Meeting in respect of the amendments of the Articles, the Supervisory Committee will be dissolved accordingly with effect from 1 July 2024. Each of the Supervisors has submitted his/her resignation to the Supervisory Committee and will resign as Supervisor with effect from 1 July 2024. Each of the Supervisors has confirmed that he or she has no disagreement with the Supervisory Committee and there is no matter relating to his or her resignation as a Supervisor that needs to be brought to the attention of the Shareholders or the Stock Exchange.