Landbay Inc. announced that in connection with the SPA, the Board appointed Chunyang Liu, Lidong Wang and Wenfang Lu to fill vacancies on the Company?s Board of Directors caused by the resignation of Ms. Xiaowei Jin which all took effect on the May 4, 2024 (the Effective Date). Also, on April 23, 2024 (the Closing Date), the Board appointed Mr. Liu as President and Mr. Lu as Secretary of the Company, with immediate effect. Chunyang Liu (Age 49), born in 1975, graduated with a Bachelor?s degree in International Economics and Trade from Nankai University.

He serves as Chairman of Landbay Inc. He served as the legal representative of Dongyang City Yunda Express Co. Ltd. from 2002 to 2024, the legal representative of Zhejiang Qingke Cloud Network Technology Co. Ltd. from 2014 to 2024, and the legal representative of Zhejiang Xinsheng New Media Group Co.

Ltd. from 2023 to 2024. With a diverse background spanning the logistics, liquor, supply chain technology services, and network technology industries, Liu has accumulated extensive experience in industry operations, digital technologies, resource integration, and investment. Leveraging his solid industrial foundation and forward-thinking approach, he is actively involved in building Xinsheng Media Group.

The group is dedicated to staying at the forefront of AI development, particularly in the livestream e-commerce sector. Its vision is to serve as a talent incubator within the industry and reshape its development trajectory. Lidong Wang (Age, 33), born in 1991, graduated from Zhejiang Water Conservancy and Hydropower College in 2013 with an associate degree.

Over the course of his career, he served as President of Zhejiang Qingke Cloud Network Technology Co. Ltd. from 2020 to 2022, acted as the legal representative of Hangzhou Increment Speed Build Technology Co. Ltd. from 2022 to 2023, and held the position of President at Zhejiang Xinsheng New Media Group Co.

Ltd. from 2023 to 2024. With more than 10 years of experience in investment, financing, and fund management, he has worked in both state-owned enterprises and unicorn companies. Mr. Wang excels in market development, industry analysis, and business negotiation.

He is skilled at integrating comprehensive financial resources across various industries and has built extensive social connections and resources in government, banking, private equity funds, and enterprises. His exceptional business acumen has consistently earned recognition from clients and industry peers. Wenfang Lu (Age, 30), born in 1994, graduated with a Bachelor?s degree from Jiangxi Business College in 2017.

With nearly a decade of experience in the livestream e-commerce industry, Mr. Lu has focused on areas such as supply chain management, the digital economy, and artificial intelligence. He has successfully integrated livestream e-commerce into a comprehensive chain system incorporating supply chain management and digitization. This has provided him with a solid foundation of practical experience and theoretical knowledge, facilitating the deep integration of livestream e-commerce and the AI industry.

In the face of the rapidly evolving industry landscape, Mr. Lu has demonstrated strong adaptability and accumulated extensive experience in team management. From 2017 to 2019, Mr. Lu operated a personal chain store. Following this, he served as the Market Director at Yunda Express from 2019 to 2020, Vice President of Qingke Cloud Network Technology from 2020 to 2021, and General Manager of Dipingbang Supply Chain from 2022 to 2023.

Since 2023, Mr. Lu has been Vice President at Zhejiang Xinsheng New Media Group Co. Ltd. Each of the directors will serve until the next annual meeting of stockholders of the Company and until such director?s successor is elected and qualified or until such director?s earlier death, resignation, or removal. The following is information concerning the business backgrounds of each new director and officer.