HK SH ALLIANCE (01001) announced that Mr. Xu Linbao, who has served the company for over 9 years, will not seek re-election and has retired by rotation as an independent non-executive director following the conclusion of the annual general meeting, as he needs to devote more time to personal affairs. Upon his retirement, Mr. Xu also ceased to serve as chairman of the remuneration committee and as a member of the audit committee and nomination committee. Following the conclusion of the annual general meeting, Ms. Zhang Manqi has been appointed as chairman of the remuneration committee after Mr. Xu's retirement.