Pa Shun International Holdings Limited announced at the AGM to be held on February 22, 2024, approved Notice regarding the re-election of each of Professor Xiao Kai, Mr. Feng Junzheng, Mr. Zhang Tong, Mr. Chen Yunwei and Mr. Cao Lei as a Director were not passed at the AGM since there was not a majority of votes cast in favour of each of such resolutions. Professor Xiao Kai retired as an executive Director. Professor Xiao also ceased to be the chairman of the Board and authorized representative of the Company (for the purpose of Rule 3.05 of the Listing Rules); Mr. Feng Junzheng retired as an executive Director and ceased to be the chief executive officer of the Company; Mr. Zhang Tong retired as a non-executive Director; Mr. Chen Yunwei retired as a non-executive Director.

Mr. Chen also ceased to be a member of the Nomination Committee of the Board; Mr. Cao Lei retired as an independent non-executive Director. Mr. Cao also ceased to be the chairman of the Remuneration Committee of the Board, a member of each of the Audit Committee of the Board and the Corporate Governance Committee of the Board.