Buyang International Holding Inc. announced that Mr. Fu Yi ("Mr. Fu") has tendered his resignation as an Independent Non-Executive Director, the member of audit committee, the member of nomination committee and the member of remuneration committee of the Company with effect from 9 July 2024 to focus on his other commitments. Mr. Fu has confirmed that he has no disagreement with the Board and is not aware of any matter in relation to his resignation that needs to be brought to the attention of the holders of securities of the Company and The Stock Exchange of Hong Kong Limited. The Board announced that: Mr. Ren Guodong ("Mr. Ren") has been appointed as an Independent Non-Executive Director, the member of Audit Committee, the member of Nomination Committee and the member of Remuneration Committee of the Company with effect from 9 July 2024.

The biographical details of Mr. Ren are as follows: Mr. Ren Guodong, aged 43, obtained a Bachelor's degree in engineering, a Master's degree in management from the Tongji University, Shanghai, China in 2003 and 2006, respectively. He has extensive experience in the capital market. From September 2006 to December 2010, he served as a senior auditor in Ernst & Young.

From January 2011 to September 2021, he has been the executive director in the investment banking department of Essence Securities Co. Ltd. From October 2021 to July 2023, he served as a senior executive director in the investment banking department of Guotai Junan Securities Co. Ltd. Since August 2023, he serves as the general manager in the investment department of Shanghai Tianyou Investment Management Ltd.