Continental Aerospace Technologies Holding Limited (the Company, together with its subsidiaries, known as the Group) announced that Mr. Zhao Yang (Mr. Zhao) has tendered his resignation as an executive Director, the authorised representative (the Authorised Representative) of the Company under Rule 3.05 of the Rules (the Listing Rules) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the Stock Exchange) and the authorised representative of the Company to accept service of process or notices in Hong Kong on behalf of the Company under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the Process Agent) with effect from 3 April 2023 due to his other business commitments. The Board announced that Mr. Zhang Zhibiao (Mr. Zhang) has been appointed as an executive Director with effect from 3 April 2023. The biographical details of Mr. Zhang are set out as follows: Mr. Zhang, aged 49, obtained a master 's degree in business administration from Nankai University, the People's Republic of China (the PRC) and a bachelor degree from Jiangxi University of Finance and Economics, the PRC.

Mr. Zhang is currently a director and chief executive officer of AVIC International (HK) Group Limited, a controlling shareholder of the Company and a director of Tacko International Limited, a substantial shareholder of the Company. Mr. Zhang served as an executive Director from August 2018 to August 2021. Mr. Zhang was previously a director of FIYTA Precision Technology Company Limited from February 2021 to September 2021, a director of Shennan Circuit Company Limited from April 2021 to April 2022, a director of Tianma Microelectronics Company Limited from February 2021 to November 2021, a director and general manager of Rainbow Digital Commercial Company Limited from November 2021 to April 2022 and a director of China Merchants Property Operation & Service Company Limited (formerly known as AVIC Sunda Holding Company Limited) from September 2017 to December 2019, the shares of which are all listed on the Shenzhen Stock Exchange.

Mr. Zhang was also previously an executive director of AVIC Joy Holdings (HK) Limited, the shares of which are listed on the Main Board of the Stock Exchange from July 2017 to September 2020. Mr. Zhang also served as the head of the operations management department, the head of the planning and development department, the head of the comprehensive management department, the deputy head of the strategic development department, the office manager of international aviation business office and the deputy office manager of the capital operations office of AVIC International Holding Corporation (AVIC International). Prior to joining AVIC International, Mr. Zhang served as the president assistant of AVIC Securities Company Limited (formerly known as (SouthChina Securities Company Limited)) and the head of (SouthChina Financial Research Institute).

Mr. Zhang has over 25 years of experience in areas of management, aviation business, strategic development, industry research, securities, investment and initial public offerings. The Board also announced that Mr. Yu Xiaodong, an executive Director, has been appointed as the Authorised Representative and the Process Agent with effect from 3 April 2023.