Logan Group Company Limited announced that, each of Mr. Chen Yong and Mr. Zhou Ji has been appointed as an executive director of the Company with effect from 3 October 2023. The biographical details of Mr. Chen and Mr. Zhou are set out below: Mr. Chen, aged 45, was appointed as the vice president of the Group in June 2022, being primarily responsible for the offshore capital and financial management of the Group. Prior to joining the Group, Mr. Chen held various important and senior management positions in many professional institutions and large enterprises including PricewaterhouseCoopers, China Resources Group and CDH Investments, and has extensive experience in corporate financial management, investment and capital management.

Mr. Chen is currently a non-practicing member of the Chinese Institute of Certified Public Accountants. He obtained a bachelor's degree in economics from Dongbei University of Finance and Economics in July 2000 and a master's degree in economics from Sun Yat-sen University in 2003. Mr. Zhou, aged 42, was appointed as the vice president of the Group in January 2022, being primarily responsible for the operation management of the Group as well as risk management and legal affairs of the Group.

Mr. Zhou joined the Group in February 2021 and has held various positions including the Group's assistant president, general manager of the operations management center, general manager of the marketing center and vice president. Prior to joining the Group, Mr. Zhou worked in Country Garden Group and Longfor Group in various positions including project general manager, investment director and regional general manager. He has extensive experience in real estate investment analysis, project development and management, internal management, etc.

Mr. Zhou obtained a bachelor's degree in architecture from Shijiazhuang Tiedao University in 2004. In accordance with Article 83(3) of the Second Amended and Restated Memorandum of Association of the Company, Mr. Chen and Mr. Zhou will hold office until the next following annual general meeting of the Company and will then be eligible for re-election at such meeting respectively. The Board announced that Mr. Zhong Huihong ("Mr. Zhong'') has tendered his resignation as an executive director and a vice president of the Company for devoting more time and dedication to his personal commitments, and Mr. Xiao Xu has tendered his resignation as an executive director and a vice president of the Company and all positions with the Group due to his decision to devote more time to his personal commitments, both with effect from 3 October 2023.

Each of Mr. Zhong and Mr. Xiao has confirmed that he has no disagreement with the Board and there are no other matters relating to their resignations that need to be brought to the attention of the holders of securities of the Company.