Announcement of Mr. Richard Yan as the new chairman and legal representative of YIZUMI

YIZUMI (Stock Code: 300415) announced that the first interim board meeting of 2022 was held on July 21st and the motion of “The Election of the Chairman of the Fourth Term of the Board of Directors (Hereinafter referred to as B.O.D.) and the change of Legal Representative” was discussed and put to vote.

Mr. Richard Yan was elected unanimously as the chairman of the fourth term of the B.O.D. of YIZIMI. The tenure is in accordance with the tenure of the current B.O.D.

Chairman and CEO of YIZUMI

Mr. Richard Yan

With unanimous consent of all YIZUMI directors,

Mr. Richard Yan was elected as the chairman

According to the “Articles of Association of Guangdong YIZUMI Precision Machinery Co., Ltd.” (Hereinafter referred to as the Articles of Association), the chairman will be the legal representative of the company and the company will initiate the legal proceedings to change the legal representative and make application to the registered Administration for Industry and Commerce Registration. The B.O.D. authorized the relative persons to initiate the procedures.

By the date of the Announcement (July 21st, 2022), Mr. Richard Yan owns 7,859,917 direct shares and 62,734,365 indirect shares through GREAT ALPHA HOLDINGS LIMITED and accounts to 15.05% of the voting power in total. As one of the actual controllers of YIZUMI, Mr. Richard Yan has had good credibility and never been punished by the China Securities Regulatory Commission and Authorities of the Chinese Securities Exchange.

YIZUMI and all directors of the board pledge the genuineness, accuracy, and integrity of the information disclosure. The announcement of appointment is in accordance with Corporation Law and the Articles of Association. It conforms to the need of corporate development and in accordance with the corporate governance perfection as well as to the benefit of the corporate development.

With 30 years of senior management experience,

Mr. Richard Yan will lead YIZUMI to a world-class enterprise

Mr. Richard Yan was one of the earliest Hong Kong citizens who sought business opportunities in Mainland China after the "reform and open" policy of China. Mr. Richard Yan has gained more than 30 years of senior industry management experience since he joined the injection molding machines industry in 1986 and he has a high reputation and influence in the industry.

In 2008, as the general manager of YIZUMI, Mr. Richard Yan took charge of the operation of YIZUMI. Based on his valuable financial and management experience and international background, he tried to implement the globalization, operational efficiency and product development strategies, helping YIZUMI to improve its competitive edge year by year.

So far, YIZUMI's injection molding machines and diecasting machines business has occupied the second position in China market. And the profit and revenue experienced significant growth during the past two years.

"Made in China + global operation", is the aim for YIZUMI to become a world-class enterprise. Regarding the future development, Mr. Richard Yan expressed his ambition with confidence. "We shall chase the goal like Su Bingtian, the Chinese famous top class athlete, to upgrade and innovate to surpass ourselves. There is no doubt that YIZUMI will keep moving forward and chasing the dream with everyone's endeavor."