Zhitong Finance App News, Fanyuan International (02516) issued an announcement that will take effect immediately after the end of the company's annual shareholders' meeting to be held on May 31, 2024 (or other relevant dates detailed in the annual shareholders' meeting notice): 1. Zhang Min will retire as an executive director and will not be re-elected at the annual shareholders' meeting due to retirement, and will not be re-elected as the company's chief executive officer at the same time; and 2. Sun Peng will retire as an independent non-executive director and will not be re-elected at the annual shareholders' meeting. Spend more time on their other business and personal matters.

1. Yao Shenjie will be appointed as a non-executive director with immediate effect from the end of the Annual General Meeting of Shareholders; and 2. Wang Jiaofei will be appointed as an independent non-executive director and a member of the Audit Committee and Nomination Committee with immediate effect from the end of the AGM.

After Ms. Zhang ceases to be CEO, Wang Quan will be appointed as CEO, effective immediately after the end of the Annual General Meeting of Shareholders. Mr. Wang will also continue to serve as Executive Director, Chairman of the Board of Directors, Chairman of the Nomination Committee and a member of the Remuneration Committee.