FU SHOU YUAN (01448) appointed Jin Leiyi and Ma Jianting as co-presidents.

Fu Shou Yuan (01448) announced that starting from December 12, 2025, based on comprehensive considerations of the company's future development needs, Mr. Wang Jisheng's age and energy status, as well as his recent performance in the business he was responsible for, the board of directors has decided to remove Mr. Wang Jisheng from the position of President of the company. This adjustment aims to make the company's management arrangements more in line with the next stage of development strategy, while also allowing Mr. Wang Jisheng to focus more on his duties as an executive director and member of the nomination committee. Mr. Wang Jisheng will continue to serve as an executive director of the company and a member of the nomination committee. To further improve the operational efficiency of the company, the company will establish a "Co-Chief Executive Officer" system. Mr. Jin Lei (the current Regional General Manager of the group's Western region) and Mr. Ma Jianting (the current Chief Financial Officer (CFO) of the company) have been appointed as Co-Chief Executive Officers.