From July 28, Mr. Tse, Eric S Y will take over the position of Chief Executive Officer of Sino Biopharm. Mr. Li Yi, the former executive director and chief executive officer of Sino Biopharm, will no longer serve in the aforementioned position due to his intention to focus on other business development, and upon his resignation, Mr. Li Yi was appointed as a senior advisor to the company.

Mr. Tse holds a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania and a Master's degree in Management and Global Leadership from Schwarzman College of Tsinghua University. Mr. Tse founded the Penn Wharton China Summit during his college studies and subsequently established the China Summit Foundation in late 2016; he is currently a member of the 13th All-China Youth Federation and Vice Chairman of the 12th Shaanxi Provincial Youth Federation. Mr. Tse is a member of the 13th All-China Youth Federation and Vice Chairman of the 12th Shaanxi Provincial Youth Federation. In 2018, he was honored as one of the "Top 10 Outstanding Chinese Youth" (selected by the All American Chinese Youth Federation, the Chinese American Public Diplomacy Association, and the Los Angeles Post).

Mr. Tse joined Sino Biopharm in June 2018 and is currently the Chief Executive Officer, an Executive Director, a member of the Executive Committee of the Company, and a Director of CHIA TAI TIANQING Pharmaceutical Group Company Limited (CTTQ) since 2019, becoming Chairman of CTTQ in July 2020. Prior to joining the company, he also served as the CEO of Liepin North America, a leading human resources firm.

Under the leadership of Mr. Tse, CTTQ has promoted the three strategies of "Comprehensive Innovation, Digital Transformation and Talent Strategy" and has made many achievements.

In the innovation research and development, CTTQ has achieved a high-quality breakthrough in innovation transformation through the two-wheel drive of independent research and development and in-depth cooperation, and has reached a number of business expansions of important innovative drugs in the cooperation field, increasing the proportion of innovative drugs in the independent research and development pipeline, significantly increasing the revenue contribution of innovative drugs, and speeding up the international layout comprehensively, and maintaining steady growth in performance.

In 2021, CTTQ Pharmaceuticals was ranked No. 2 in the "Big Pharma Innovation Top 10 in China" and entered into an exclusive strategic partnership agreement with Genetron Health in China for HCCscreenTM, an early screening product for liver cancer based on liquid biopsy technology.

At the same time, CTTQ is actively promoting the digital transformation of enterprises to achieve lean operations, improve efficiency, and quickly respond to environmental changes. It has built a more complete, secure and efficient digital collaborative business platform to promote "online" business processing and build a new modern office ecology of online business collaboration and information-enabled organization. Through the co-creation of IT and other departments, CTTQ will not only reduce costs and increase efficiency, but also strengthen coordination and communication, and help business departments handle business more efficiently and conveniently through a full range of innovative services, and explore innovation points.

In terms of talent strategy, CTTQ vigorously promotes the optimization of organization and talent resources, introduces management teams from home and abroad, cultivates internal core talents, and takes internal talent inventory to guarantee the power source of organizational development.

In order to promote the talent strategy from top-level design to implementation on the ground, in early 2020, CTTQ established the University of CTTQ. University of CTTQ focuses on organizational development and talent cultivation, continues to promote culture implementation, empowers people, promotes innovation and leads changes. At the same time, it continues to promote the change of human resource management model, enhance the support for business and improve organizational effectiveness.

After taking over as Chief Executive Officer of Sino Biopharm, Mr. Tse will focus on the four strategies of "Organizational Integration, Comprehensive Innovation, Globalization and Digitalization", preside over daily business and promote major decisions, including corporate strategies, personnel appointments and dismissals, investment integration, etc. He will also build a professional management team to further enhance organizational efficiency, drive innovative business, cooperate with more partners and promote the process of globalization and innovation.

The new management team will focus closely on the four core strategic directions of Sino Biopharm. The Chairman of the Board of Directors, Miss Tse, Theresa Y Y, will focus on the Group's strategic planning, internationalization, capital market operations, and listed company-related matters; and the Chief Executive Officer, Mr. Tse, Eric S Y, will focus on the operational management, organizational optimization and efficiency improvement of all subsidiaries of the listed company. The Chairman of the Board of Directors and the Chief Executive Officer, each with their own focus, will lead Sino Biopharm to innovate, forge ahead, and continue to create values for patients, shareholders, and society.