The board of directors of China Art Financial Holdings Limited announced that Mr. Tong Zaan San has tendered his resignation as Chief Executive Officer of the Company to focus on his other personal business development with effect from 23 March 2022. Upon Mr. Tong's resignation as the Chief Executive Officer, Ms. Lam Siu Mui has been appointed as the Chief Executive Officer with effect from 23 March 2022. At present, Ms. Lam is the honorary chairman of GBA Dongguan -- Hong Kong Elite Association and the executive vice chairman of the Federation of Chinese Leaders and Presidents.

Ms. Lam was an executive director of the Company from 23 April 2021 to 21 March 2022.