The board (the "Board") of directors of Sanxun Holdings Group Limited announced the appointment of Mr. Wang Y as an independent non-executive Director and the chairman of the audit committee (the "Audit Committee"), a member of the remuneration committee (the "Remuneration Committee") and a member of the nomination committee of the Board with effect from 28 December 2023. Mr. Wang, aged 54, is currently a professor and master supervisor of Nanjing Audit University and a part-time doctoral supervisor at Shanxi University of Finance and Economics. Mr. Wang also currently served as anonymous reviewer for journals such as "Accounting Research", thesis review expert of the Ministry of Education, and high-tech enterprise review expert of Jiangsu Province.

From November 2010 to December 2016, Mr. Wang was a professor and the head of Department of Financial Management at Anhui University of Finance and Economics. From January 2012 to April 2018, Mr. Wang served as an independent director of Huainan Runcheng Science & Technology Co. Ltd. From October 2014 to April 2018, Mr. Wang served as an independent director of Huangshan Tourism Development Co.

Ltd. From April 2014 to March 2021, Mr. Wang served as an independent director of Anhui Deli Housedhold Glass Co.,Ltd Mr. Wang obtained his Bachelor of Economics (Accounting) and Master of Business Administration (Accounting) from Anhui University of Finance and Economics in July 1993 and July 2002 respectively and Doctor of Philosophy in Management (Accounting) from Nanjing University in June 2011. Mr. Wang is a Certified Public Accountant in China and a Registered Asset Appraiser (non-practising) in China. Mr. Wang has entered into an appointment letter with the Company for a term of three years, and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company.

Mr. Wang will receive emolument of RMB 72,000 per annum, which was determined by the Board with reference to his experience, duties and responsibilities in the Company as well as the current market rate.