China Beidahuang Industry Group Holdings Limited announced the appointment of Mr. Liu Xiaopeng as an executive Director and a Vice-chairman of the Board with effect from 1 July 2024, the Board comprises a total of ten Directors, of which four are executive Directors, three are non-executive Directors and three are independent non-executive Directors. As such, the ratio of the number of independent non-executive Directors falls short of the minimum one-third of the Board as required under Rule 3.10A of the Listing Rules. Mr. Liu, aged 60, is currently a director of an international trading company in China.

Mr. Liu has been engaged in international import and export trading business for more than 30 years, and has many years of extensive experience in marketing and management. Mr. Liu will enter into a service agreement with the Company for a term of two years commencing from 1 July 2024 which provides (among others) that his appointment can be terminated by one month's notice in writing served by either party on the other. Mr. Liu is subject to retirement by rotation and re-election pursuant to the articles of association of the Company.

Mr. Liu's annual remuneration as an executive Director will be determined by the Board by reference to his duties and responsibilities with the Company, the Companys remuneration policy and the remuneration committee 's recommendation. The Company will publish an announcement to inform the shareholders of the Company of Mr. Liu's remuneration package once it is fixed.