Ban Loong Holdings Limited on 20 April 2022, the board of directors of the Company formed an independent investigation committee (the Independent Investigation Committee) for the purpose of carrying out the investigation and report on the matters and events relating to the outstanding loans and the existing businesses of the Company generally, including the trading of goods and commodities business (the Scope of Investigation). The Independent Investigation Committee was formed on 20 April 2022, comprising its executive Directors, namely, Mr. Dong Ming (Mr. Dong) and Mr. Liu Zhouyang, and its independent non-executive Directors, namely, Mr. Leung Ka Kui, Johnny and Ms. Wong Chui San, Susan. Mr. Dong was appointed as the chairman of the Independent Investigation Committee.

Mr. Chow Wang (Mr. Chow) was the department head of the Money Lending Business from June 2015 to April 2022 and the chief executive officer of the Company from January 2017 to April 2022, and the majority of the borrowers in respect of the outstanding loans up to December 2020 were referred by Mr. Chow. As such, Mr. Chow 's duties, as an executive director of the Company, have been suspended pending the results of the investigation.