Renaissance Asia Silk Road Group Limited announced that Dr. Wang Wei Hsin has resigned as a non-executive Director ("NED") and has been redesignated as a business president of the Company with effect from the conclusion of the Board meeting held on 28 November 2022. Upon his resignation as a NED, Dr. Wang has also ceased to be the vice chairman of the Board. The Board is pleased to announced that Mr. Xu Huiqiang ("Mr. Xu") has been appointed as a NED with effect from the conclusion of the Board meeting held on 28 November 2022.

Mr. Xu Huiqiang, aged 60, has extensive project and enterprise operation and management experience in construction industry. Mr. Xu is currently a senior management, consultant and controlling shareholder of number of domestic and foreign companies. As at the date of this announcement, Mr. Xu is deemed to be interested in a total of 315,291,852 ordinary shares of the Company through his controlled companies Excellent Shine Capital Limited, a British Virgin Islands company, and Zhongyingsheng International Investment Management Co., Limited, a Hong Kong company, representing a total of approximately 20.80% of the issued shares of the Company.