The board of directors of Feiyang International Holdings Group Limited announced that Ms. Li Chengai tendered her resignation as an independent non-executive Director of the Company and ceased to be the chairlady of the audit committee of the Company and a member of the remuneration committee of the Company with effect from 3 November 2022 due to her other work arrangement. The Board announced that Ms. Zhao Caihong has been appointed as an independent non-executive Director, the chairlady of the Audit Committee and a member of the Remuneration Committee with effect from 3 November 2022. Ms. Zhao, aged 48, has over 20 years of experience in education and accounting.

Ms. Zhao obtained a bachelor's degree in Accounting from East China Jiaotong University in July 1999 and a master's degree in Accounting from Jilin University in June 2003. She served as an accountant in Tongliao, Inner Mongolia branch of China Tietong Telecom from July 1999 to August 2000. She has been a teacher in Business School of Zhejiang Wanli College since September 2003.

Ms. Zhao has been a certified public accountant in the PRC since 2003 and has been certified as a professor in accounting since 2021.