The board of directors of Global Bio-chem Technology Group Company Limited announced that, with effect from 11 December 2023, Mr. Yang Jian (Mr. Yang) has resigned as an executive Director and ceased to be the chairman of the Board, the chairman of the nomination committee of the Company (the Nomination Committee), a member of each of the executive committee of the Company (the Executive Committee), the remuneration committee of the Company (the Remuneration Committee), the corporate governance committee of the Company (the CG
Committee), and the authorised representative (the Authorised Representative) of the Company. Mr. Yang has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the Company in connection with his resignation. The Board announced that following the resignation of Mr. Yang, Mr. Wang Cheng (Mr. Wang) has been appointed as an executive Director and the chairman of the Board. Mr. Wang, aged 54, graduated from the Central University of Finance and Economics in July 1992, majoring in accounting. Mr. Wang obtained a postgraduate degree in management science and engineering from Liaoning Technical University in July 2007. Mr. Wang is currently a qualified senior accountant of the People's Republic of China (the PRC). Mr. Wang has over 30 years of accounting experience in various provincial units/bodies in Jilin Province, the PRC. Mr. Wang joined (Liaoyuan Mining (Group) Co. Ltd.) in July 1992 and served as chief accountant from December 2007 to March 2009. Mr. Wang had served as deputy chief economist and chief accountant of (Jilin Coal Industry Group Company Limited) (Jilin Coal) as well as the director, chairman and party committee secretary of various wholly-owned subsidiaries of Jilin Coal from March 2009 to September 2017. Mr. Wang also served as deputy secretary of the party committee of (Jilin Provincial State-owned Capital Operation Co. Ltd.) from September 2017, and had been further appointed as the general manager from November 2017 to September 2022. From June 2018 to September 2022, he concurrently served as the chairman of (Jilin Zhisheng Investment Management Co. Ltd.). Since September 2022, Mr. Wang has been serving as the party committee secretary and chairman of (Jilin Agricultural Investment Group Co. Ltd.), an indirect controlling shareholder of the Company. Following the resignation of Mr. Yang and the appointment of Mr. Wang as an executive Director, Mr. Yang has ceased to be, and Mr. Wang has been appointed as, the Authorised Representative under Rule 3.05 of the Listing Rules with effect from 11 December 2023. The Board further announces that following the resignation of Mr. Yang and the appointment of Mr. Wang as an executive Director as announced above, Mr. Yang has ceased to be, and Mr. Wang has been appointed as, the chairman of the Nomination Committee, and a member of each of the Executive Committee, Remuneration Committee and CG Committee with effect from 11 December 2023.