Mr. Yao was appointed as an executive director, deputy chairman of the Board, general manager of the Company on 25 September 2025. He holds a bachelor’s degree in post communications management (郵政通信管理) from Xi’an Institute of Posts and Telecommunications (西安郵電學院) (now known as Xi’an University of Posts and Telecommunications (西安郵電大學)) and a master’s degree in industrial economics (產業經濟學) from Jinan University (暨南大學), and obtained completion certificate from the “global asset management advanced studying programme” (全球資產管理高級研修課程) from the PBC School of Finance of Tsinghua University, all in the People’s Republic of China. He obtained the qualification of intermediate business administration economist (中級工商管理經濟師) granted by the Guangzhou Municipal Human Resources Bureau (廣州市人事局) in January 2009 and has been a holder of the designation Chartered Global Management Accountant issued by The Chartered Institute of Management Accountants in the United Kingdom since August 2018.
Mr. Yao has over 19 years’ experience in corporate management. He was involved in a number of major capital raising projects and has ample experience in corporate investment decision- making, capital management and asset management. Mr. Yao is currently director of Yue Xiu Securities Holdings Limited and Guangzhou Yuexiu Industrial Investment Co., Ltd. (廣州越秀產業投資有限公司), and director and general manager of Yuexiu Capital (Guangzhou) Management Co., Ltd.. Mr. Yao joined Guangzhou Yue Xiu in July 2005, and he successively served in various positions in operations analysis and management, administration management, and financial capital management. Mr. Yao served as deputy general manager of the general office of Guangzhou Yue Xiu and YXE from November 2011 to January 2016, deputy general manager of finance department of Guangzhou Yue Xiu and YXE from January 2016 to July 2020, business director of the finance department of Guangzhou Yue Xiu and YXE from July 2020 to February 2021. From February 2021 to September 2025, he acted as general manager of the capital operations department of Guangzhou Yue Xiu and YXE, and had been responsible for the coordination of capital operations and related management work of Guangzhou Yue Xiu and its subordinate sectors. YXE is the wholly-owned subsidiary of Guangzhou Yue Xiu, and also the controlling shareholder of the Company. In addition, Mr. Yao was a director and a non-executive director of the board of directors of Yuexiu Services Group Limited (a company listed on The Stock Exchange of Hong Kong Limited under stock code 6626) between January 2021 and February 2021 and between February 2021 and September 2024, respectively.