The board of directors of Space Group Holdings Limited announced the following changes in directorship and composition of the audit committee of the Company and the nomination committee of the Company. Fan Chun Wah, Andrew has resigned as an Independent Non-Executive Director, the chairman of the Audit Committee and a member of the Nomination Committee with effect from 8 August 2022 in order to dedicate more time to his other career commitments. Li Guohui has been appointed as an Independent Non-Executive Director, the chairman of the Audit Committee and a member of the Nomination Committee with effect from 8 August 2022.

Li, aged 51, joined Zhongsheng Group Holdings Limited in July 2019 and currently serves as an executive director and joint chief financial officer of Zhongsheng Holdings. From August 2013 to July 2019, Li was the vice president, chief financial officer and executive director of China Resources Pharmaceutical Group Limited, a non-executive director of Dong-E E-Jiao Co. Ltd. and China Resources Double Crane Pharmaceutical Co.

Ltd. and a supervisor of Sanjiu Medical & Pharmaceutical Co. Ltd. From September 2009 to August 2013, he was the accounting director of the finance department of China Resources (Holdings) Company Limited. From April 2006 to September 2009, he was a senior analyst of IMC Development Management Company Limited in Hong Kong.

From October 2005 to April 2006, he was a M&A investment analyst in IMC Fanya, Singapore. He has also served as an independent non-executive director of Shandong Weigao Group Medical Polymer Company Limited since May 2022. Li obtained a bachelor's degree in naval architecture and marine engineering from Wuhan University of Technology, a master's degree in business administration from Wuhan University, a master's degree in financial management from Nanyang Technological University in Singapore and obtained professional qualifications as a Chartered Financial Analyst (CFA) qualified by the CFA Institute of Chartered Financial Analyst and a Certified Public Accountant (CPA) qualified by the Singapore Institute of Chartered Accountants.

Li has entered into a service agreement with the Company for an initial term of three years commencing on 8 August 2022, subject to retirement by rotation and re-election in accordance with the Rules Governing the Listing of Securities on the Stock Exchange and the articles of association of the Company.