Shenwan Hongyuan (H.K.) Limited at its extraordinary general meeting held on June 28, 2024, approved the appointment of Mr. Liu Chijin as the Independent Non-executive Directors has been approved at the EGM with effect from 28 June 2024. Mr. Liu, aged 62, is the Chairman of Pan Pacific Group, member of China Life Strategic Advisory Committee, and an independent non-executive director, the member of audit committee and nomination committee of Fourth Paradigm Technology Company (whose H shares are listed on the Stock Exchange, stock code: 6682); Formerly served as an independent director of Xiamen International Trust and an independent supervisor of China National Building Materials Corporation. Mr. Liu has also been appointed as a visiting professor of the International Finance Doctoral Program at Tsinghua Wudaokou School of Finance, as well as a special lecturer at China (Dalian) Senior Management College and the State owned Assets Supervision and Administration Commission's Education Center.

Mr. Liu graduated from Xiamen University with a Bachelor's degree in Semiconductor Physics, and also holds a Master's degree in Physics from the University of Memphis and an MBA from Harvard Business School. Save as disclosed above, Mr. Liu did not hold any other directorship in other Hong Kong or overseas listed public companies in the last three years, and as at the date of this announcement, he did not hold any other position with the Company or its subsidiaries and did not have any relationship with any other Director, senior management, controlling shareholder or substantial shareholder of the Company. The Board further announces that Mr. Liu was appointed as a member of the Audit Committee, Remuneration Committee, Nomination Committee, Risk Committee, and Environmental, Social and Governance Committee of the Company on 28 June 2024.

Following the appointment of Mr. Liu as independent non-executive director and a member of the Audit Committee, the Company has fully complied with the requirement of at least three independent non-executive directors as set out in Rule 3.10(1), the appointment of independent non-executive directors must be representing at least one-third of the board as set out in Rule 3.10A, and an audit committee comprising non-executive directors.