Orient Victory Smart urban Services Holding Limited announced that Mr. Xue Fei (?Mr. Xue?) and Ms. Hao Ying (?Ms. Hao?) was duly appointed as an executive Director at the AGM held on June 28, 2024, and that Mr. Lin Hua Rong, Harry (?Mr. Lin?) was duly appointed as an independent non-executive Director at the AGM, all appointed without specific term. The Board announced that, following the retirement of Mr. Shi as the Chairman, Mr. Mo Yueming (?Mr. Mo?), an executive Director, has been appointed as the Chairman with immediate effect. Mr. Mo, aged 59, was appointed as an executive Director on 2 May 2018.

Mr. Mo holds a degree of Executive Master of Business Administration from the HEC school of Management in Paris, France, a Master's degree in Business in Economics from the Chinese Academy of Social Sciences and a Bachelor's degree in Accounting from Beijing Institute of Business. Mr. Mo has over 20 years of experience in accounting and corporate management of the tourism industry and other industries, including working as the vice general manager and Chief Accountant of China Pan Travel Industry Development Co. Ltd. (now known as China Spacesat Co.

Ltd. (?China Spacesat?) and Mr. Mo has been a director of China Spacesat since June 2001; Mr. Mo has been a director of Zhejiang Yongfeng Environmental Sci&tech Co. Ltd., for a term from 23 February 2016 to 22 February 2019; and the senior vice president of Orient Landscape Holdings Co. Ltd. and the Chief Operating Officer of Orient Brigade Group from 28 April 2017 to 27 November 2017.

Besides, Mr. Mo was the president of Orient Victory Culture & Travel Group that was controlled by Mr. Shi, and Comfort Cultural Tourism Industry Group Co. Ltd., of which China Comfort Tourism Group Company Limited (?China Comfort?) is the equity holder, from March 2018 to March 2019. Mr. Mo currently serves as a co-vice chairman of Orient Victory Group that was controlled by Mr. Shi and has been a director of China Comfort since April 2018.

Further, since 2020, Mr. Mo serves as the chairman of Beijing Dora Aimeng Travel Development Holding Co. Ltd. and Beijing Dongfu Petroleum Technology Co. Ltd. The Board announced that Mr. Shi was appointed as the honorary chairman of the Board and a senior consultant of the Company with immediate effect.

Mr. Shi, aged 55, was the Chairman, an executive Director and the CEO and was also the chairman of the Nomination Committee and a member of the Remuneration Committee. Mr. Shi graduated from the Hebei University of Architecture in 1989, who has over 24 years of experience in property development and is a qualified engineer in the PRC. Mr. Shi is the director of Orient Victory Group HK Holdings Limited, chairman of Orient Victory Property Development Group Limited, director of Dongyuan Holdings Limited and vice chairman of China Comfort.

In addition, Mr. Shi is the honorary vice chairman of the China Real Estate Industry Association, chairman of Shijiazhuang City Real Estate Industry Association and vice president of Chinese Rowing Association. As set out in the Circular, (i) Mr. Shi Baodong ("Mr. Shi") would retire as the chairman of the Board (the "Chairman"), an executive Director and the chief executive officer of the Company (the "CEO"); and (ii) each of Mr. Zhao Huining ("Mr. Zhao"), Ms. Chang Meiqi ("Ms. Chang") and Mr. Dong Xiaojie ("Mr. Dong") would retire as a Director, and would not offer themselves for re-election at the AGM. Accordingly, with effect from the conclusion of the AGM, (i) Mr. Shi has retired as an executive Director, the Chairman and the CEO; (ii) Mr. Zhao has retired as an executive Director; (iii) Ms. Chang has retired as a non-executive Director; and (iv) Mr. Dong has retired as an independent non-executive Director.

Following the retirement of Mr. Shi, Mr. Zhao, Ms. Chang and Mr. Dong, with effect from the conclusion of the AGM, (i) Mr. Shi has ceased to be the chairman of the nomination committee of the Company (the "Nomination Committee") and a member of the remuneration committee of the Company (the "Remuneration Committee"); (ii) Ms. Chang has ceased to be a member of the audit committee of the Company (the "Audit Committee"); and (iii) Mr. Dong has ceased to be the chairman of the Remuneration Committee.