Shen Yao Holdings Limited announced that Sun Shuwen has resigned from the position of Financial Controller. Role And Responsibilities: The Financial Controller is responsible for determining the financial policies of the Group and taking charge of the full accounting, financial and treasury/cash management matters of the Group. Ms. Sun has resigned from her position as she wishes to pursue other opportunities.

Ms. Sun has confirmed that she is not aware of any concerns with regards to the financial reporting of the Group that led to her resignation.