The board of directors of Da Yu Financial Holdings Limited announced that Mr. Xu Haohao, an existing non-executive Director, has been redesignated as an executive Director and has ceased to be the member of each of audit committee and nomination committee of the Company with effect from 4 June 2024. Following the Redesignation, Mr. Xu has been appointed as a member of the executive committee of the Company with effect from 4 June 2024. The biographical details of Mr. Xu are as follows: Mr. Xu, aged 40, was appointed as a non-executive Director on 31 May 2023 and was a member of each of audit committee and nomination committee of the Company.

He is also a director of a subsidiary of the Company. Mr. Xu is currently a major shareholder and executive director of Yuen Wo International Limited, a company registered in Hong Kong. Mr. Xu holds a Bachelor's degree in Financial Administration from University of Winnipeg, Canada and an EMBA degree from the City University of Hong Kong.

Mr. Xu has extensive experience in financial and corporate management. From September 2019 to August 2022, Mr. Xu served as executive director and the chief executive officer of Man Sang International Limited. Previously, Mr. Xu served as an executive director of CWT International Limited from December 2014 to June 2019 and held various senior management positions including co-chairman and chief executive officer during his term of service.

From November 2016 to September 2019, Mr. Xu was also a non-executive director of AID Life Science Holdings Limited (now known as 8088 Investment Holdings Limited), a company formerly listed on GEM of the Stock Exchange (former stock code: 8088, which was privatised in August 2022), and from May 2018 to April 2019, a director of HY Energy Group Co. Ltd. From September 2012 to March 2014, Mr. Xu worked in finance department of Hong Kong Airlines Limited. Mr. Xu is a director and shareholder of Beyond Global Enterprises Limited, a substantial shareholder of the Company.

He is also a director of Victory Gain Ventures Limited, a substantial shareholder of the Company and a subsidiary of Beyond Global Enterprises Limited.