On April 24, 2024, DDC Enterprise Limited received a letter of resignation from Mr. Chia-hung Yang, tendering his resignation as an independent director of the Company and as a member of each of the Board committees. The decision of Mr. Chia-hung Yang to resign did not arise or result from any disagreement with the Company on any matter relating to the Company?s operations, policies or practices. Mr. Chia-hung Yang has confirmed that there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

On April 24, 2024, to fill the vacancy following the resignation of Mr. Chia-hung Yang, the Board appointed Ms. Wei Qiao as an independent director, a member of the Board?s Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, and chairman of the Board?s Audit Committee, effective immediately. Ms. Wei Qiao, aged 43, has been a financial consultant at TalkingData Group Holding Ltd., a premier big data enterprise and major independent data intelligence service provider in China, since January 2022, where she was mainly responsible for managing the company?s daily financial operations, ensuring financial health and overseeing financial budgets, forecast and planning. Prior to that, she worked at Mogu Inc., a leading social e-commerce platform listed on the NYSE, from June 2015 to March 2021, with her last position as a financial consultant.

She was mainly responsible for offering consulting services for daily financial operations, overseeing financial operations and legal matters and ensuring compliance with regulatory standards. Ms. Qiao graduated from the Renmin University of China with a Bachelor?s degree in Mathematics and Applied Mathematics in 2003, and obtained an Executive Master of Business Administration from Peking University in 2016.