Powerlong Commercial Management Holdings Limited (9909) announced that, effective 1 March 2026, Mr. Xu Meng will resign as Chief Executive Officer to focus on other business commitments. The board acknowledged that Mr. Xu has no disagreements with the board and no matters require further attention from shareholders or the exchange.

Following Mr. Xu’s departure, Mr. Cai Erchao will assume the CEO role on the same date. His background includes serving as general manager at Xiamen Powerlong Real Estate Management Co., Ltd. (a wholly owned subsidiary of Powerlong Real Estate Holdings Limited (1238), the controlling shareholder of Powerlong Commercial Management) from July 2018 to February 2026, where he led major commercial real estate development projects. He will serve a five-year term with an annual fixed salary of RMB1.20 million plus a discretionary bonus. The board has expressed gratitude to Mr. Xu for his contributions and has extended a warm welcome to Mr. Cai on his appointment.