The Board of the CHYY Development Group Limited announced that due to the work assignment adjustment by China Energy Conservation and Environmental Protection Group (the parent company of China Energy Conservation and Environmental Protection (Hong Kong) Investment Co. Ltd., a substantial shareholder of the Company), Mr. Yang Wei ("Mr. Yang") has resigned as Non-Executive Director, Deputy Chairman of the Nomination Committee and Deputy Chairman of Group Development Strategic Committee of the Company with effect from 5 July 2023. The Board announced that Mr. Liao Yuan ("Mr. Liao") has been appointed as a Non- Executive Director, Deputy Chairman of the Nomination Committee and Deputy Chairman of Group Development Strategic Committee of the Company with effect from 5 July 2023; The biographical details of Mr. Liao are set out as follow: Mr. Liao, aged 52, MBA holder and Senior Accountant. Mr. Liao graduated with a bachelor's degree in Human Resources from BEIJING JIAOTONG UNIVERSITY and a postgraduate course in Business Administration from DONGBEI UNIVERSITY OF FINANCE
& ECONOMICS. Mr. Liao has been worked in COFCO Corporation and CHINA LIGHT INDUSTRIAL CORPORATION FOR FOREIGN ECONOMIC AND TECHNICAL CO-OPERATION. Mr. Liao joined China Energy Conservation and Environmental Protection Group since 2009, he successively served as the Officer of the Comprehensive Finance Department and the Deputy Chief Accountant of Zhonggie Blue Sky Investment Consulting Management Company Limited and the Deputy General Manager, the Officer of the Operation Department and General Manager of China Energy Conservation Consulting Company Limited. Since 2020, he successively worked in China Energy Conservation and Environmental Protection Ecological Products Development Research Center Company Limited, China Energy Conservation and Environmental Protection Green Development Research Institute, China Energy Conservation and Environmental Protection Consulting Company Limited and China Energy Conservation and Environmental Protection Carbon Peak Carbon Neutrality Research Institute. Currently, he is the General Manager of China Energy Conservation and Environmental Protection Ecological Products Development Research Center Company Limited, the Executive Dean of China Energy Conservation and Environmental Protection Green Development Research Institute and the Executive Dean of China Energy Conservation and Environmental Protection Carbon Peak Carbon Neutrality Research Institute.