The board of directors of Min Xin Holdings Limited announced the changes to the Board and an authorised representative of the Company as follows: Mr. YAN Zheng has resigned as the Chairman of the Board, an Executive Director, the Chairman of the Executive Committee and the Nomination Committee of the Company due to age reason with effect from 28 February 2023. Mr. CHEN Jie has resigned as the Vice Chairman of the Board, an Executive Director and a member of the Executive Committee of the Company due to age reason with effect from 28 February 2023. Mr. WANG Fei has been appointed as the Chairman of the Board, an Executive Director, the Chairman of the Executive Committee and the Nomination Committee of the Company with effect from 28 February 2023.

Mr. Wang, aged 56, is currently the secretary of the Party Committee, the chairman of the board of directors and the legal representative of Fujian Investment & Development Group Co. Ltd. Wang is a deputy to the 14th National People's Congress. He holds a Master's Degree in Business Administration from the University of Birmingham, United Kingdom and a Doctorate Degree in Economics from Department of Economics of Xiamen University.

He is a Senior Economist in Mainland China. Mr. Wang has extensive experience in corporate development and management, financial investment management as well as financial institutions and venture capital management. Mr. Wang was the vice chairman of the Board, an executive director and a member of the Executive Committee of the Company from 26 August 2014 to 3 September 2020.

He had previously assumed the positions of the deputy general manager of Investment Management Department of Fujian Investment and Enterprise Corporation, the deputy general manager of Development and Research Department of Fujian International Trust and Investment Corporation, the general manager of Development Department and Financial Investment Management Department of Fujian Investment & Enterprise Holdings Corporation, the assistant to general manager, a and the deputy secretary of the Party Committee, the director-general and the vice chairman of Fujian Rural Credit Union. He was a director of Industrial Securities Co. Ltd. from December 2014 to June 2021 and Xiamen King Long Motor Group Co.

Ltd. from September 2014 to March 2016. He was a director of Xiamen International Bank Co. Ltd., the chairman of Haixia Goldenbridge Insurance Co.

Ltd., a director and the vice chairman of Haixia Capital Management Co. Ltd., the chairman of Fujian Innovation Venture Investment Management Co. Ltd., a director of Alltrust Insurance Company Limited and the chairman.

He was a director and the chairman of Vigour Fine Company Limited which is a controlling shareholder of the Company from September 2014 to December 2018. Mr. HUANG Wensheng has been appointed as the Vice Chairman of the Board, an Executive Director and a member of the Executive Committee of the Company with effect from 28 February 2023. Mr. Huang, aged 54, is currently the assistant to general manager of FIDG.

Mr. Huang holds a Bachelor's degree in Economics from Department of Economics and a Master's degree in Business Administration from Department of Business Administration of Xiamen University. He is a Senior Economist in Mainland China. He has extensive experience in banking, financial institutions management and capital operations.

Mr. Huang has worked in a commercial bank for a long time. He had previously assumed the positions of the principal of Lianban Office, the section chief of the Credit Department and the general manager of Hubin Sub-branch, the general manager of Tongan Sub-branch, the general manager of the Business Department and the Key Accounts Department of Xiamen Branch of Agricultural Bank of China. He was also served as the secretary of the Party Committee and the general manager of the Business Department, the general manager of Key Accounts Department and the general manager of the Institutional Business Department, Custody Business Department Fujian Sub-section and Pension Center Fujian Sub-center of Fujian Provincial Branch of Agricultural Bank.

He was also a senior specialist of Fujian Provincial Branch of Agricultural Bank. The Board further announced that, subsequent to his resignation as an Executive Director, Mr. Yan has ceased to act as an Authorised Representative with effect from 28 February 2023. Mr. Wang has been appointed as an Authorised Representative with effect from 28 February 2023.