ZHENGYE INT'L (03363): Hu Zheng appointed as Chief Executive Officer

ZHENGYE INT'L (03363) announces that Mr. Hu Jianpeng has resigned as the company's Chief Executive Officer due to changes in his work arrangements, effective from July 1, 2026. After his resignation, Mr. Hu Jianpeng will continue to serve as an executive director. In order to better promote the development and expansion of the group's paper business, he will be appointed as the President of the group's paper division, focusing on overseeing the operation and management of this division. The current Chairman and Executive Director, Mr. Hu Zheng, has been appointed as the new Chief Executive Officer, effective from July 1, 2026. This appointment is concurrent with his term as an executive director, and Mr. Hu Zheng will not receive any additional compensation for serving as Chief Executive Officer. He will be responsible for overseeing the overall operation and management of the group. Considering Mr. Hu Zheng's involvement in the daily management of the group's internal functional departments and active participation in the group's strategic planning and operations, the board of directors believes that he has a deep understanding of the group's business and strategies. Therefore, the board of directors believes that he has the appropriate experience and capabilities to succeed Mr. Hu Jianpeng as Chief Executive Officer.