The board of directors of China Rare Earth Holdings Limited announced that with effect from 17 May 2024, Ms. Qian Yuanying has resigned as an executive Director and the chairman of the Board in order to devote more time to her personal and other business commitments. The Board announced that Mr. Jiang Quanlong, an executive Director of the Company of the Company, has been appointed as the Acting Chairman with effect from 17 May 2024. The biographical details of Mr. Jiang are set out below: Mr. Jiang Quanlong, aged 71, is a founding member and was previously the chairman of the Group until September 2017.

Mr. Jiang is recognised as a senior economist by Jiangsu Provincial Personnel Department. Mr. Jiang has been appointed as the honorary chairman of the council of Jiangsu Rare Earth Industry Association since January 2021. Mr. Jiang has over 30 years of experience in the rare earth and refractory materials industries.

Prior to the founding of the Group, Mr. Jiang had been a factory manager of arefractory materials production plant and a sales manager of a glass and ceramics manufacturing company. Mr. Jiang is also a director of YY Holdings Limited, a substantial shareholder of the Company. Mr. Jiang is the husband of Ms. Qian.

From 16 August 2006 to 15 September 2017, Mr. Jiang served as the chairman and an executive director of Pan Asia Environmental Protection Group Limited.