The board of directors of Hao Bai International (Cayman) Limited announced that Wang Xinliang was appointed as an executive director of the company with effect from January 3, 2022. Wang has over 25 years of management experience. Wang has been serving as a Managing Director since 2020.

Wang has also worked as a general manager of COFCO's subsidiary companies between 2012 and 2020 and has held management position at various companies in the People's Republic of China. Wong Terence Kwong Lung was appointed as an executive director of the company with effect from January 3, 2022. Wong has held senior management positions in different investment companies in various industries, while he also has extensive experience in property management and investments in Hong Kong and the PRC.

Ma Meng was appointed as an independent non-executive director of the company with effect from January 3, 2022. Ma has over 10 years of experience in the financial services industry. Ma has worked at Chinaventure Investment Consulting Limited, Zero2IPO Holdings Inc., Haitong Securities Co.

Ltd. and other large private equity institutions and securities firms.