The board of directors of China Shenghai Group Limited announced that Mr. Huang Jingsheng has been appointed as the Executive Director of the Company with effect from 19 December 2023. Mr. Huang Jingsheng ("Mr. Huang"), aged 49, Mr. Huang graduated from the South West University, majoring in business management. Mr. Huang is the founder of Caiding Holdings Group Limited and has many years of experience in enterprise operations and business management, especially in agricultural market, and agricultural product supply chain industries.

Mr. Huang is currently the chairman of Caiding Holdings Group Limited, Member of the Standing Committee of the Heyuan Municipal People's Political Consultative Conference of Guangdong Province, Lifetime Merit Founding Executive Vice President of the Guangdong Province Heyuan Chamber of Commerce, Honorary President of the fourth council of the Heyuan Overseas Friendship Association, Founding President of the Zhongshan City Heyuan Chamber of Commerce and Vice President of the Zhongshan City Young Entrepreneurs Association President. The Board announced that Mr. Liu Chuanyi ("Mr. Liu") resigned as non-executive director of the Company ("Non-Executive Director") with effect from 19 December 2023 in order to devote more time to his personal endeavours. The Board announced that Mr. Lin Zhenqing ("Mr. Lin") resigned as independent non-executive director of the Company ("Independent Non-Executive Director"), chairman of the remuneration committee of the Company ("Remuneration Committee") and member of the audit committee of the Company ("Audit Committee") and nomination committee of the Company ("Nomination Committee") with effect from 19 December 2023 in order to devote more time to his personal endeavours.

The Board announced that Mr. Yang Minda has been appointed as the Independent Non-Executive Director chairman of the Remuneration Committee and member of the Audit Committee and Nomination Committee with effect from 19 December 2023. Mr. Yang Minda ("Mr. Yang"), aged 37, Mr. Yang graduated from Gaugndong University of Foreign Studies, majoring in Finance. Mr. Yang has more than twelve years of experience in the fields of private equity fund issuance, project investment, project research and analysis, and financial product design.

Mr. Yang is currently the co-founder of a financial holding group and serves as the project director, providing professional advice, risk advice and project analysis suggestions for different proposed listing projects.