MAXICITY (02295): Wu Kunmin Appointed as Executive Director, Chief Executive Officer and Chairman of the Board

MAXICITY (02295) announces that with effect from October 23, 2026: (i) Mr. Xie Chengji has resigned as executive director and chairman of the board, and ceased to serve as chairman of the nomination committee and member of the remuneration committee of the Company; (ii) Mr. Cao Bingchang has resigned as independent non-executive director, and ceased to serve as chairman of the audit committee of the Company; (iii) Mr. Kuang Zhicheng has resigned as independent non-executive director, and ceased to serve as a member of each of the audit committee, nomination committee and remuneration committee; (iv) Mr. Ling Zhaozeng has resigned as independent non-executive director, and ceased to serve as chairman of the remuneration committee and a member of each of the audit committee and nomination committee; and (v) Ms. Zhao Shaoling has resigned as independent non-executive director, and ceased to serve as a member of each of the audit committee, nomination committee and remuneration committee. With effect from October 23, 2026, Mr. He Jiaqi has retired from the position of chief executive officer of the Company in order to devote more time to other personal and business affairs. Mr. He will continue to serve as an executive director of the Company. With effect from October 23, 2026: (i) Mr. Wu Kunmin has been appointed as executive director, chief executive officer and chairman of the board; (ii) Dr. Huang Hao has been appointed as independent non-executive director; (iii) Ms. Chen Wenfei has been appointed as independent non-executive director; (iv) Ms. Jiang Ruizhi has been appointed as independent non-executive director; and (v) Dr. Zhou Xiang has been appointed as independent non-executive director. With effect from October 23, 2026, the composition of the board committees is as follows: Audit Committee: Ms. Chen (Chairman), Dr. Huang, Ms. Jiang and Dr. Zhou; Nomination Committee: Mr. Wu (Chairman), Dr. Huang, Ms. Chen, Ms. Jiang and Dr. Zhou; Remuneration Committee: Dr. Huang (Chairman), Mr. Wu, Ms. Chen, Ms. Jiang and Dr. Zhou. With effect from October 23, 2026, Mr. He ceased to act as an authorized representative of the Company under Rule 3.05 of the Listing Rules, and Mr. Wu has been appointed as an authorized representative of the Company in place of Mr. He. Mr. He continues to serve as an executive director of the Company. Following such change, the authorized representatives of the Company are Mr. Wu and Mr. Lin Jiaohong.