The board of directors of IBO Technology Company Limited announce that Mr. Li Yang has been appointed as an executive Director and deputy chairman of the Company with effect from 21 March 2023. Mr. Li, aged 51, obtained a diploma from Shenzhen University in 1992 and a Master of Business Administration from Shenzhen Economic and Management Institute in 2000. Mr. Li also completed a Master's degree programme in 2001 at the Graduate School of Chinese Academy of Social Sciences, majoring in World Economics.

Mr. Li has over 20 years of experience in investment activities and business management. He has held directorships in several companies listed on the Main Board of the Stock Exchange of Hong Kong Limited and a public company listed on the stock market of the People's Republic of China. Mr. Li is currently an executive director, the chairman of the board of the directors, the chairman of the nomination committee, the chairman of the corporate governance committee, a member of the remuneration committee and an authorised representative of Virtual Mind Holding Company Limited since January 2022.

Mr. Li is also currently an independent non-executive director, a member of the audit committee, remuneration committee and nomination committee of HG Semiconductor Limited since April 2022. From September 2014 to June 2018, Mr. Li acted as the deputy chairman and an executive director of China Best Group Holding Limited. From June 2015 to September 2016, he acted as the chairman and a director of Guanghe Landscape Culture Communication Co.

Ltd., Shanxi, shares of which are listed on the Shanghai Stock Exchange. From February 2017 to December 2018, he also served as an independent non-executive director of Sino Haijing Holdings Limited, the listing of which was cancelled on 2 November 2021 under Rule 6.01A of the Rules Governing the Listing of Securities on the Stock Exchange. From November 2018 to December 2020, he acted as the deputy chairman and an executive director of Leyou Technologies Holdings Limited.

Such company was privatized by way of a scheme of arrangement under the Companies Law of its place of incorporation and its listing was withdrawn on 24 December 2020. From August 2020 to February 2021, he also acted as an executive director of CT Environmental Group Limited, the listing of which was cancelled on 10 September 2021 under Rule 6.01A of the Listing Rules. Mr. Li has held various senior management positions in a number of capital investment and entity enterprises, and has extensive industry experience in internet, information technology and other businesses.