The board of directors of Million Stars Holdings Limited announces that Mr. Zeng Jin and Ms. Liu Qin have been appointed as the executive directors of the Company with effect from 4 June 2024. Mr. Zeng Jin, aged 50, obtained his double bachelor's degrees in polymer science and computer software from East China University of Science and Technology in Shanghai, China in July 1997 and master's degree in business administration from Donghua University in Shanghai, China in June 2008. He served as a department manager, assistant to the general manager, deputy general manager, senior vice president, and secretary to the board in Krone Communications (Shanghai) Co.

Ltd. Shanghai Trayton Furniture Co. Ltd., Morris Group Co. Ltd. and China Floors Lumber (China) Co.

Ltd. He has extensive experience in corporate operation and management. From March 2016 to June 2021, he served as an executive director of Morris Holdings Limited and was appointed as a senior vice president and the head of production and quality management. He currently serves as the deputy general manager of Shanghai Xinzhen International Trade Co.

Ltd. Ms. Liu Qin, aged 45, graduated from the School of Law, Tsinghua University in 2009 with a master's degree and passed the National Judicial Examination with a lawyer's license. She worked at Jingtian & Gongcheng in Beijing, Ping An Securities and China Merchants Securities, and is currently a partner of Guangdong Jinxian Law Firm. She is skilled and experienced with over 20 years of engagement in businesses related to the capital market, including non-performing assets disposal, negotiation, settlement, debt disputes, debt risk isolation, company law, investment and financing services, and provision of long-term legal advice to enterprises.

Mr. Zeng Jin has been appointed as the Chairman of the Board of the Company with effect from 4 June 2024 and Mr. Gan Xiaohua and Ms. Tian Yuan have ceased to be the co- chairman of the Board of the Company following the appointment of Mr. Zeng. Each of Mr. Gan and Ms. Tian will continue to serve as an executive Director of the Company. The Company hereby would like to take this opportunity to express its sincere gratitude and respect to Mr. Gan and Ms. Tian for their contributions during their tenure of service as the co-chairman of the Board and also to welcome Mr. Zeng to the new role.

Mr. Zeng Jin has been appointed as the compliance officer of the Company with effect from 4 June 2024 and Ms. Tian Yuan has ceased to be the compliance officer of the Company following the appointment of Mr. Zeng.