Zhongnan Co., Ltd. announced that on April 17, 2024, the board of directors of the company received a written resignation from Mr. Li Shiping, the chairman of the company. Mr. Li Shiping resigned from the relevant positions of the company's director, chairman, and special committee of the board of directors due to work reasons. According to the “Company Law”, “Articles of Association” and other relevant regulations, Mr. Li Shiping's resignation did not cause the company's board of directors to fall below the minimum required number of members. His resignation took effect when it reached the board of directors. After his resignation, Mr. Li Shiping did not hold any positions in the company or its subsidiaries. On April 19, 2024, the first interim meeting of the 9th board of directors of the company in 2024 deliberated and passed the “Proposal on Election of the Chairman”. Due to the company's management needs, Mr. Wu Kunzong, the vice chairman, was elected as the chairman of the company.