Bossini International Holdings Limited announced that with effect from 4 April 2023, Mr. Herrero has resigned as the Chairman and a non- executive Director of the Board and the chairman and a member of the nomination committee of the Company; with effect from 4 April 2023, Mr. Zhao, an executive Director, has been appointed as the Chairman of the Board and the chairman and a member of the nomination committee of the Company; and Ms. Yu has been appointed as an executive Director with effect from 4 April 2023. Mr. Zhao Jianguo, aged 58, was appointed as an executive Director in July 2020. He has extensive experience in business operation and marketing and distribution of consumer products in mainland China and is the head of the consumables business of Viva China Holdings Limited (Stock code: 8032).

He served in different positions in the group of Li Ning Company Limited (stock code: 2331) in its early stage. He is the founder and a director of Beijing Henggu Investment Management Co. Ltd. which is principally engaged in investment and asset management since May 2008.

Mr. Zhao was also a director of Beijing Eagles Investment Fund Management Co. Ltd. from November 2015 to January 2019. This fund management company focuses on diversified technology investment, including mobile internet and technology, media, and telecom sectors.

Mr. Zhao is the brother-in-law of Mr. Li Chun and Mr. Li Ning, both being substantial shareholders of the Company (within the meaning of the Securities and Futures Ordinance (the "SFO")). Mr. Zhao graduated from Tianjin University of Sport in 1987 with professional physical qualification. In 1985, he won the National Gymnastics Championship in mainland China.

Ms. Yu Xin (), aged 33, has extensive experience in the fashion design and the research and analysis on the PRC investment market. Ms. Yu was an investment manager of Beijing Eagles Investment Fund Management Co. Ltd. from November 2015 to June 2018.

From March 2015 to November 2015, she worked as an assistant to the manager of sports marketing department of Li-Ning (China) Sports Goods Co. Ltd.() . From July 2011 to July 2014, she was an assistant to the president of Beijing Yixin Yi Yi Culture Communication Co.

Ltd. Ms. Yu is a niece of Mr. Li Ning, being substantial shareholder of the Company (within the meaning of the SFO). Ms. Yu graduated from the Art and Design School on fashion design of Beijing University of Technology and was awarded a Degree of Bachelor of Arts in July 2011. Prior to the Appointment, Ms. Yu was a project manager of the Group, responsible for brand and product planning.

The service agreement of Ms. Yu in relation to her appointment as a project manager was terminated by mutual agreement with effect from 4 April 2023 and a new service agreement has been entered into between Ms. Yu and the Company in relation to the Appointment for a term of 3 years commencing on 4 April 2023 subject to termination of not less than 3 months' notice in writing served by either party and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the Bye-Laws of the Company. Pursuant to the service agreement, Ms. Yu is entitled to receive a director's fee of HKD 250,000 per annum as determined by the Board with reference to her responsibilities.