Code Chain New Continent Limited announced that on October 4, 2022, Mr. Wei Xu tendered his resignation as President, Chairman of the Board and a director, effective October 4, 2022. The resignation of Mr. Wei Xu was not a result of any disagreement with the Company's operations, policies or procedures and Mr. Bibo Lin tendered his resignation as the Vice President and a director of the Company, effective October 4, 2022. The resignation of Mr. Bibo Lin was not a result of any disagreement with the Company's operations, policies or procedures.

On October 4, 2022, approved by the Board of Directors, the Nominating and Corporate Governance Committee and the Compensation Committee, Mr. Hongxiang Yu was appointed as President, Chairman of the Board and a director of the Company, effective October 4, 2022, and Ms. Shuang Zhang was appointed as the Vice President and a director of the Company, effective October 4, 2022. The biographical information of Mr. Hongxiang Yu: Mr. Hongxiang Yu, age 43, co-founded Shanghai Highlight Media Co. Ltd. (“Highlight Media”), a consolidated variable interest entity of the Company, in 2016 and has been its Chairman of the Board since then.

Mr. Yu is also the Chairman of the Board of Shanghai Highlight Asset Management Co. Ltd., responsible for asset management and private equity investment. Mr. Yu is also the Vice Chairman of the Board of Tianjing Dragon Film Co.

Ltd., engaged in the investment in the film industry in China. From 2006 to 2015, Mr. Yu served as the general manager of Hongrun Foundation Engineering Co. Ltd. and the head of the internal audit department of Hongrun Construction Group Co.

Ltd. Mr. Yu received his bachelor's degree in international trade from University of Portsmouth in the United Kingdom in 2004 master's degree in international human resource management from University of Portsmouth in the United Kingdom in 2006. The biographical information of Ms. Shuang Zhang: Ms. Shuang Zhang, age 52, co-founded Highlight Media in 2016 and has been its Chief Executive Officer since 2017. During her tenure as the Chief Executive Officer, Ms. Zhang managed the planning, creation and publication of books about the company history of industry leaders in China, published in top financial publications in China.

From 2015 to 2016, Ms. Zhang was the director of public relations at Ctrip, an online travel company in China. From 2004 to 2015, Ms. Zhang was the editor-in-chief of China Business News, responsible for editing, performance, and quality control. Ms. Zhang received her bachelor's degree in Journalism from Heilongjiang University in China in 1991 and her Master of Business Administration degree from the Antai College of Management and Economics of Shanghai Jiaotong University.