Lajin Entertainment Network Group Limited announced that Mr. Colin Xu ("Mr. Xu") has been appointed as an executive director of the Company with effect from 1 November 2022. Mr. Xu, aged 33, obtained his bachelor degree of Visual Art from Simon Fraser University in Canada in 2012. Prior joining to the Group, Mr. Xu invested in some private business and gained three years of experiences in food and beverage industry after he founded a food and beverage business in 2013.

Mr. Xu joined Beijing Lajin Film Co. Ltd. as a vice president in 2016 and is responsible for business development and customer relationship maintenance. Mr. Xu is also subsequently responsible for exploring business opportunities and identifying potential partners for the Group's new media business.

Mr. Xu is the son of Mr. Xu Zhong Min, Chief Strategist of the Company and one of Group's senior management. Mr. Xu Zhong Min owns 100% interest in Great Majestic Global Holdings Limited, which in turn owns 45% interest in controlling shareholder, Jiaxuan Group Company Limited. Mr. Xu does not have any relationship with any existing directors and senior management of the Company, substantial shareholders or controlling shareholders of the Company (as defined in the Rules Governing the Listing of Securities on the GEM (the "GEM Listing Rules") of The Stock Exchange of Hong Kong Limited (the "Stock Exchange")).

The Board announces that Ms. Zhai Shan Shan ("Ms. Zhai") has resigned as an executive director and ceased to be an authorised representative of the Company in order to concentrate on other personal affairs with effect from 1 November 2022.