Mr. Liu Qiao: Independent non-executive director of the Company. Bachelor of Science in Economic Applied Mathematics from Renmin University of China, Master of Economics from the Institute of Finance of the People's Bank of China, Ph.D. in Economics from the University of California, Los Angeles, and Chang Jiang Scholar Distinguished Professor. He is currently the dean of Guanghua School of Management at Peking University, a professor of finance and economics, and a doctoral supervisor. He is also a member of the Expert Review Committee of the Shenzhen Stock Exchange, a postdoctoral supervisor at the China Securities Regulatory Commission, Shenzhen Stock Exchange, China Financial Futures Exchange, China Minsheng Banking Corporation, and other institutions, and a vice president of the China Enterprise Reform and Development Research Association. Independent non-executive director of China Securities Co., Ltd. (a company listed on the Hong Kong Stock Exchange), independent non-executive director of Zhengheng International Holdings Co., Ltd. (a company listed on the Hong Kong Stock Exchange), independent director of Beijing Capital Co., Ltd. (a company listed on the Shanghai Stock Exchange) . He once served as an assistant professor at the School of Economics and Finance at the University of Hong Kong, a consultant at McKinsey & Company's Asia Pacific Corporate Finance and Strategy Consulting Center, and an assistant professor and associate professor (tenure-track) at the School of Economics and Business Administration at the University of Hong Kong.