China Vered Financial Holding Corporation Limited announced that the majority of the Board has resolved to suspend all duties and powers of Ms. Lin Le as the chairperson of the Board with effect from 22 February 2024 until completion of the Investigation. The majority of the Board further resolved that Ms. Du Lina, an executive director of the Company, has been appointed as the acting chairperson of the Board with effect from 22 February 2024 until completion of the Investigation. Ms. Du is acting as Acting Chairperson to fill the vacancy arising from the suspension of duties and powers of Ms. Lin Le as the chairperson of the Board.

Due to the suspension of duties and powers of Ms. Lin Le as the chairperson of the Board and the appointment of Ms. Du as the Acting Chairperson, the majority of the Board further resolved that Ms. Du has been appointed as the chairperson of the nomination committee of the Board and Ms. Lin Le ceased to be the chairperson of the nomination committee with effect from 22 February 2024. The biographical details of Ms. Du are as follows: Ms. Du, aged 35, has served as the chief financial officer of Beijing Yingzhongxianghe Group Company Limited since July 2019. Prior to that, she worked as the chief financial officer of Beijing Eighty One Investment Co.

Ltd. from March 2014 to June 2019. Ms. Du obtained a bachelor's degree in business administration from Pace University in May 2011.