The board of directors of Wai Chun Bio-Technology Limited announced the following: Ms. Hong Ting has been appointed as an independent non-executive director of the Company with effect from 5 October 2022. Ms. Hong, aged 36, obtained a Bachelor of Business degree from The Chinese University of Hong Kong in 2008. She is a fellow member of the Hong Kong Institute of Certified Public Accountants and a Certified Public Accountant in Hong Kong.

She worked for an international audit firm and has over 14 years of experience in accounting, auditing, taxation and financial consulting. She has experience in performing audits for listed entities and multinational corporations. She has also been actively handling the reporting of major transactions of clients such as initial public offerings projects, very substantial acquisition transactions, very substantial disposal transactions, and right issues.

The industries of her clients include property development, manufacturing and retailing, natural resources mining and trading, generation of natural resources, generation and distribution of natural gases, generation and distribution of electricity and power, operation of wind farm, and media and entertainment services. In addition, Ms. Hong is familiar with the financial reporting standards, listing rules and companies ordinance. She is experienced in merger and acquisition, initial public offerings procedures and requirements including the review of the internal controls and performing due diligence.

Ms. Hong is currently the director and senior executive of three corporate practice firms of certified public accountants in Hong Kong, namely CL Partners CPA Limited, CCTH CPA Limited and TKG CPA Limited. Ms. Hong is also currently a non-executive director of Alco Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited. Ms. Hong has entered into a letter of appointment with the Company as an independent non-executive director of the Company for an initial term of two years commencing from 5 October 2022.

Ms. Hong will hold office until the first general meeting of the Company after her appointment and will thereafter be subject to retirement by rotation and re-election in accordance with the provisions of the articles of association of the Company. Pursuant to the letter of appointment, Ms. Hong is entitled to receive a director's fee of HK$120,000 per annum. Such fee was determined by the Board with reference to her qualifications, experience, duties and responsibilities with the Company, and the prevailing market conditions.

Ms. Hong has been appointed as a member and the chairman of the audit committee of the Company, and a member of each of the nomination committee and remuneration committee of the Company with effect from 5 October 2022.