The board of directors of Chiho Environmental Group Limited announced that Mr. Li Linhui (Mr. Li) has resigned as an executive Director. He has ceased to be the chairman of the Board and the chairman of each of the executive committee of the Company, the nomination committee of the Company, the strategy and investment committee of the Company and the pricing committee of the Company and has ceased to assume the responsibilities of a chief executive officer of the Company with effect from 21 March 2023, as he would like to focus on and devote more time to his other business and personal commitments. The Board also announced that with effect from 21 March 2023, Mr. Qin Yongming (Mr. Qin) has been appointed as an executive Director, the chairman of the Board and the chairman of each of the Executive Committee, the Nomination Committee and the Strategy and Investment Committee, and the Pricing Committee; and Mr. Zhang Wei (Mr. Zhang) has been appointed as an executive Director and the chief executive officer of the Company. Mr. Qin Yongming, aged 59, graduated from Renmin University of China with a Bachelor's degree in Finance and Accounting and holds a Master of Business Administration from the University of Southampton, United Kingdom. He has 35 years' experience and extensive management experience in global manufacturing and recycling industries, as well as professional experience in corporate operation management, international capital operations, strategic risk control, financial management, international materials procurement and supplier management. He held a number of senior leadership positions at LafargeHolcim group, Tianjin Henkel Detergent Co. Ltd., etc. Mr. Qin joined the Group on 1 June 2016 as executive vice president and was appointed as an executive Director on 30 June 2016. He was re- designated to chief executive officer of the Company on 24 October 2016 and to the chairman of the Board on 17 July 2017. He ceased to be an executive Director and the chairman of the Board on 16 December 2020. Mr. Qin is currently a senior executive of the Group primarily responsible for the management of the Group's business in Germany. Mr. Qin also holds directorships in several companies within the Group. Mr. Zhang Wei, aged 37, holds a bachelor's degree of Arts from Fudan University. Mr. Zhang is a partner at CCFC Fund and also a funding partner at several family offices and investment platforms,
focusing on renewable energy, new materials, semiconductor and life science sectors. Prior to that, Mr. Zhang had eight years' working experience at Credit Suisse, BofA Merrill Lynch and The Royal Bank of Scotland Group Plc (RBS), with expertise at global capital markets, cross-border mergers and
acquisitions, and special situation investment. The Board announced that Ms. So Shuk Yi Betty (Ms. So), has tendered her resignation as the company secretary of the company, an authorised representative of the Company under Rule 3.05 of the Listing Rules and an authorised representative of the Company for accepting service of process or notices in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (collectively, the "Authorised Representative") with effect from 21 March 2023. The Board further announced that Ms. Ng Mei Wah ("Ms. Ng") has been appointed as the Company Secretary and an Authorised Representative with effect from 21 March 2023. Ms. Ng holds a bachelor's degree in commerce from Curtin University, Australia and a master's degree in Corporate Governance from The Hong Kong Polytechnic University. Ms. Ng is an associate of both The Chartered Governance Institute and The Hong Kong Chartered Governance Institute and awarded with the dual designations of Chartered Secretary and Chartered Governance Professional.