Yong Bai Chao New Retail Corporation announced that onMay 26, 2022, the Board of Directors of the Company appointed Min Zhang, age 40, as the new Chief Financial Officer to fill the vacancy created by Ms. Tang's resignation. Mr. Zhang joined Yong Bai Chao New Retail (Shenzhen) Co. Ltd. in March 2022 as the Chief Financial Officer and later the Company in May 2022 as the Chief Financial Officer of the Company.

Prior to joining the Company, Mr. Zhang was an Audit Director at Enesoon Group from March 2020 to March 2022. Mr. Zhang was an Assistant of Chief Financial Officer and a Manager of Financial Management Department at Shenzhen Harxon Corporation from December 2014 to February 2020. Mr. Zhang obtained his Bachelor's degree in Economics from Nanchang University in July 2005.

He has the accounting practice license of Mid-Level Accountant in People's Republic of China and the U.S. Certified Management Accountant.