China Shenghai Group Limited announced that Mr. Liu Rongru resigned as an Executive Director of the Company, Authorised Representative of the Company with effect from 18 August 2023 in order to devote more time to his personal endeavours. The Board announced that Mr. Li Tingfeng has been appointed as the Executive Director, Authorised Representative and Chief Executive Officer of the Group with effect from 18 August 2023. Mr. Li Tingfeng ("Mr. Li"), aged 32, Mr. Li graduated from the University of South Wales
in the United Kingdom, majoring in International Business and Finance. Mr. Li has many years of experience in asset management, enterprise operations and business management,
especially in consumer goods, catering and agricultural product supply chain industries. Before joining the Group, Mr. Li worked in Southern University of Science and Technology
Asset Management Co. Ltd., mainly responsible for strategic investment in consumer goods, catering, agricultural product industry chain and other sectors, and participated in the strategy formulation and operation management of a number of consumer goods and catering industry investment projects.