Caocao Inc. (the Group) has confirmed a senior management reshuffle, announcing the resignation of Chief Financial Officer Liu Sensen and the concurrent appointment of Yuan Peng as Vice President and CFO, both effective 22 June 2026.

Liu Sensen, citing personal health considerations and the pursuit of better work-life balance, will relinquish the CFO role but remain Executive President. In this capacity, he will concentrate on the Group’s long-term strategy, major decision-making and expansion of international operations. The Board recorded appreciation for Liu’s contribution, noting his leadership in transforming governance structures and steering the Hong Kong listing process.

Incoming CFO Yuan Peng, aged 37, holds dual bachelor’s degrees in law and accounting from Jiangxi University of Finance and Economics. He brings approximately 14 years of experience in financial management and capital operations. Career highlights include: • Zhejiang Geely Holding Group (2012–2020): capital operations manager, financing management manager, and senior finance department positions. • Zhejiang Yuancheng New Energy Commercial Vehicle Group: head of light commercial vehicle marketing finance. • Hanma Technology Group (2020–2023): vice president and CFO. • Zhejiang Geely Holding Group (2023–2026): deputy general manager of the financial management centre and general manager of internal control and investment & financing management.

The Board stated that Caocao Inc. maintains a robust financial management system and internal controls, ensuring continuity and stability despite the leadership transition. Management expressed confidence that Yuan will inject fresh perspectives into the finance function and support sustainable growth, while Liu’s ongoing executive responsibilities will reinforce strategic execution and global expansion initiatives.

As of the announcement date (16 June 2026), the Board comprises one executive director, five non-executive directors and three independent non-executive directors.