Honghua Group Limited announcement of the Company dated 29 June 2022, the composition of the Board is adjusted with the following resignations and appointments with effect from 4 July 2022: Mr. Ren Jie has tendered his resignation as Executive Director and member of Strategic Investment and Risk Control Committee of the Company, due to devoting more time to other business; Mr. Chen Wenle has tendered his resignation as Non-Executive Director due to work arrangement; Mr. Wang Xiuchang has tendered his resignation as Non-Executive Director due to work arrangement; Mr. Zhang Mi has tendered his resignation as member of Remuneration Committee, due to devoting more time to other business; and Mr. Chen Guoming has tendered his resignation as member of Nomination Committee, due to devoting more time to other business. Appointment of directors and Board Committee members: Mr. Zhu Hua ("Mr. Zhu") has been appointed as Executive Director and member of Strategic Investment and Risk Control Committee; Mr. Yang Yong("Mr. Yang") has been appointed as Non-Executive Director; and Mr. Zhang Shiju("Mr. Zhang") has been appointed as Independent Non-executive Director, member of the Audit Committee, Remuneration Committee and Nomination Committee. The biographical details of Mr. Zhu, Mr. Yang and Mr. Zhang are as follows: Mr. Zhu, aged 38, joined the DEC in 2009 and once served as a director, general manager and party secretary of MHI Power Dongfang Boiler Co.

Ltd., a subsidiary of DEC. He once served as the deputy director of the boiler technology department, the deputy director of the product project management department, the director of the marketing center and the director of the thermal power marketing department of Dongfang Boiler Co. Ltd. Mr. Yang, aged 48, joined the DEC in 1998, and served as the chairman and party secretary of DEC (Chengdu) Hydrogen Fuel Cell Technology Co.

Ltd., the vice president of Central Research Institute of DEC and Deputy General Manager of DEC Academy of Science and Technology Co. Ltd. Mr. Yang has extensive experience in corporate management. Mr. Zhang, aged 44, is currently a senior partner of Beijing Yingke Law Firm Shanghai Office.

Mr. Zhang holds a master's degree in economic law from Nanjing University. He is a member of the Legal Counsel Professional Committee of the All-China Lawyers Association, an external expert of the Shanghai Technology Exchange Expert Think Tank, and a management consulting service expert of the Management Consulting Professional Committee of the China Enterprise Confederation. Mr. Jiang Fuhao ("Mr. Jiang") ceased to be the President of the Company due to work arrangement with effect from 4 July 2022.

Mr. Zhu has been appointed as the Executive Vice President of the Company and is in charge of the scientific research and production and the daily operation and management of the Company, with effect from 4 July 2022. Mr. Luo Xiaoming ("Mr. Luo") has been appointed as the Vice President of the Company, responsible for the international operation and marketing management of the Company, with effect from 4 July 2022. Mr. Luo, aged 55, joined the DEC since 1992.

He was the vice general manager of DEC International Cooperation Limited, Dongfang Electric Co., Ltd, International Engineering Branch and Dongfang Electric Co. Ltd., Import and Export Branch, respectively. Mr. Luo is experienced in international trade business.

Mr. Luo obtained a bachelor's degree in thermal engineering from the thermal engineering department of Chongqing University in 1998 and holds a master's degree of engineering thermal physics from the power engineering department of Harbin Institute of Technology in 1992.