FOUNTAIN SET (00420) announced that Mr. Liu Xianfu has resigned from his positions as Executive Director, Board Chairman, Chief Executive Officer, Chairman of the Nomination Committee, and Authorized Representative under Rule 3.05 of the Hong Kong Stock Exchange Listing Rules, effective November 17, 2025, to dedicate more time to his personal and other business commitments.

Mr. Xi Qiang has been appointed as Executive Director, Board Chairman, Chairman of the Nomination Committee, and Authorized Representative, effective November 17, 2025. Additionally, Dr. Li Gang has been appointed as Chief Executive Officer, effective the same date.