The board of directors of VSTECS Holdings Limited announced that Mr. Xia Bin has been appointed as a non-executive director of the Company with effect from 9 October 2020. Mr. Xia, aged 43, has extensive legal in-house experience in corporations and enterprises. Mr. Xia is currently a deputy general manager and secretary of the board of directors of (Shenzhen Eternal Asia Supply Chain Management Ltd.) ("Shenzhen Eternal Asia"), a joint stock company established in the People's Republic of China with limited liability whose shares are listed on the Small and Medium Enterprise Board of the Shenzhen Stock Exchange (stock code: 002183). Shenzhen Eternal Asia is a substantial shareholder of the Company holding approximately 17.37% of the issued share capital of the Company as at the date of this announcement. Mr. Xia is also a director of (Yunnan Ben Yuan Payment Management Co. Ltd.), a company principally engaged in internet payment and financial services, since January 2019. Mr. Xia has been appointed as a non-executive Director of Trigiant Group Limited, a company incorporated in the Cayman Islands with limited liability whose shares are listed on The Stock Exchange of Hong Kong Limited ("Stock Exchange") (stock code: 1300), with effect from 1 July 2019. Mr. Xia obtained his qualification as a lawyer in the People's Republic of China in 2001. Mr. Xia obtained a Bachelor of Law from Luoyang Institute of Technology (now known as Henan University of Science and Technology) in 1999 and a degree of Master of Law from China University of Political Science and Law in 2008.