According to the Zhītōng Cáijīng APP, a leading integrated financial and digital technology service provider, Kimco Realty Corp (FTFT.US) announced today that Mr. Li Hu has been appointed as the Group's Chief Executive Officer (CEO), President and Board Member. Mr. Li will be fully responsible for the operation and management of the group, helping the company expand internationally through mergers and acquisitions, investments, and financing activities, and promoting Kimco Realty Corp's continued strategic transformation and development. Mr. Li will succeed Mr. Huang Shanchun as CEO effective August 5, 2024. Mr. Huang resigned as CEO, President and Board Member of the group for personal reasons and not due to any disagreements with the company, management or directors.

Mr. Li Hu has been a director and CEO of Kimco Realty Corp's wholly-owned subsidiary, Fucheng International Securities and Futures Co., Ltd., since January 2024, and has been a secretary of the group's board of directors since June 2019. He has served as an independent director of Sangon Biotech Co., Ltd. (NASDAQ: SISI) since September 2021. From September 2015 to February 2018, Mr. Li served as Deputy General Manager of Shanxi Huipu Financing Leasing Co., Ltd., responsible for the daily operation and management of the company's asset securitization and leasing business. Mr. Li received a master's degree in business administration from Xi'an University of Technology in 2008.

"Mr. Li Hu is an excellent manager who has been with the company for five years and has been deeply involved in the financial technology industry for many years, accumulating rich management experience," said Li Fuyou, Chairman of the Board of Kimco Realty Corp. "I am very pleased that he will serve as the Group's Chief Executive Officer and believe that Mr. Li will certainly shoulder greater responsibilities, serve the company, and further fulfill the company's mission."

"I attach great importance to this new appointment and opportunity. First of all, I sincerely thank Mr. Huang Shanchun for his significant contributions to Kimco Realty Corp over the years. Kimco Realty Corp's success and development cannot be separated from Mr. Huang's leadership and guidance. Mr. Huang has made outstanding contributions to the establishment of the company structure and the position of the financial technology industry. I will continue to work closely with the FTFT team on this basis to help the company achieve sustainable development and accelerate the implementation of the company's global plan. As the CEO of FTFT, my mission is to use my financial management experience to provide our customers with newer and better solutions. Our ultimate goal is to create higher value for our global customers, employees, and shareholders," said Mr. Li Hu.