Hope Education Group Co., Ltd. announced that with effect from 5 January 2024, Mr. He Shengli (Mr. He), the chairman of the Board, a non-executive Director, has resigned as the Chairman and a non-executive Director of the Company; and Mr. Zhang Bing (Mr. Zhang) has been appointed as the Chairman and a non-executive Director of the Company. Mr. He has confirmed that he has no disagreement with the Board and there is no matter regarding to his resignation that need to be brought to the attention of the shareholders and creditors of the Company or The Stock Exchange of Hong Kong Limited. Mr. Zhang, aged 54, obtained a master's degree in economics from Cheung Kong Graduate School of Business in July 2013.

Mr. Zhang has served as the general manager of Sichuan Meihao Jiayuan Investment Co., Ltd. since 28 March 2012, and has been promoted as the vice president of Chengdu West Hope Group Limited since 28 June 2012. Mr. Zhang has served as the general manager of Sichuan Tequ Investment Group Limited, one of the controlling shareholders of the Company since 21 June 2022; the executive director of Guangan Meihao Jiayuan Supermarket Chain Co., Ltd. since 31 May 2018; a manager of Sichuan Meihao Jiayuan Investment Development Co., Ltd. since 28 March 2012; the chairman of the board of Chengdu Huizong Landscaping Engineering Co., Ltd. since 26 March 2019; a director of Sichuan Special Drive Agricultural and Animal Husbandry Technology Group Co., Ltd. since 13 July 2022; a director of Panzhihua Huawurenjian Industry Co., Ltd. since 17 April 2018; a director and general manager at Wuzhishan Huawurenjian Tourism Investment Co., Ltd. since 2 September 2011; a manager at Sichuan Desheng Ronghe Industrial Group Co., Ltd. since 8 June 2017; the chairman of the board of Sichuan Hope Huawu Agricultural Tourism Development Co., Ltd. since 15 December 2016; the chairman of the board of Chengdu Hope Huawu Cultural Tourism Industry Group Co., Ltd. since 29 April 2019; a executive director and manager of Sichuan Hope Huawu Industrial Development Group Co., Ltd. since 12 November 2019; a director of Sichuan Hope Walnut Industrial Development Co., Ltd. since 8 October 2019; a director and manager of Baotou Hope Huawu Renwen Ecological Agricultural Park Co., Ltd. since 4 May 2016; a director of Chengdu Jinchengxiang Investment Co., Ltd. since 9 November 2023; a director of Chengdu Tequ Jenny Trade Co., Ltd. since 18 August 2016; a director of Dazhou Tequ Datai Real Estate Development Co., Ltd. since 29 March 2021; a supervisor of Panzhihua Huawurenjian Tourist Attractions Development Co., Ltd. since 3 December 2014; the vice chairman of the board of Hainan Hope Huawu Investment Co., Ltd. since 19 July 2023; and the executive director of Sichuan Meihao Jiayuan Trade Co., Ltd. since 23 April 2004. Mr. Zhang is the brother of Mr. Wang Degen's spouse and Mr. Wang Degen is one of the ultimate jointly controlling parties of the Company as at the date of this announcement.

After the resignation of Mr. He as a non-executive Director on 5 January 2024, he has ceased to be the member of the strategy and development committee (the Strategy and Development Committee) of the Board. Mr. Zhang has been appointed as the member of the Strategy and Development Committee, with effect from 5 January 2024.