The board (the "Board") of directors (the "Directors", each a "Director") of the Company is pleased to announced that Mr. Liew Fui Kiang ("Mr. Liew") has been appointed as an independent non-executive Director and a member of the audit committee of the Board with effect from June 6, 2022. Mr. Liew, aged 55, is currently an independent non-executive director of (i) Shandong Gold Mining Co. Ltd., a company dually listed on the The Stock Exchange of Hong Kong Limited and Shanghai Stock Exchange; (ii) China Apex Group Limited, a company listed on the Stock Exchange; (iii) Zhengye International Holdings Company Limited, a company listed on the Stock Exchange; and (iv) Zhongchang International Holdings Group Limited, a company listed on the Stock Exchange.

Mr. Liew served as (i) the chairman of the board of directors and an executive director of PacRay International Holdings Limited, a company listed on the Stock Exchange (stock code: 1010) from 2017 to 2019; (ii) a non-executive director of Amber Hill Financial Holdings Limited (a company listed on the Stock Exchange with stock code: 33) in December 2019; and (iii) an independent non-executive director of Baoshan Iron & Steel Company Limited, a company listed on Shanghai Stock Exchange (stock code: 600019), a Fortune Global 500 company, from 2000 to 2006. The Board believes that Mr. Liew's extensive experience in corporate governance and strategic decision-making with directorships in public companies qualifies him to serve on the Board. Mr. Liew obtained his bachelor's degree in laws as a Tetley & Lupton scholar from the University of Leeds in the United Kingdom in 1989 and his master's degree in business administration from the Hull University Business School of the United Kingdom in 1996.

He is a fellow of the Hong Kong Institute of Directors, a solicitor of England and Wales, and a solicitor of Hong Kong. Save as disclosed above, Mr. Liew does not hold any other positions in the Company or any members of the Group nor does he have any relationship with any other Directors, senior management, substantial shareholders or controlling shareholders (within the meaning of the Listing Rules of the Company. As at the date of this announcement, Mr. Liew does not have, and is not deemed to have, any other interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed in this announcement and as at the date hereof, Mr. Liew does not hold any other directorships in public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years. Mr. Liew will enter into a letter of appointment with the Company as an independent non- executive Director for an initial term of three year commencing from June 6, 2022 subject to termination by either party with three month's written notice. Mr. Liew will hold office until the first general meeting of the Company after his appointment and shall be eligible for re- election in accordance with the articles of association of the Company.

Mr. Liew is entitled to receive a Director's fee of HKD 300,000 per annum which is determined with reference to the prevailing market conditions, the Company's performance, his time, effort and expertise to be exercised on the Group's affairs and the Company's remuneration policy.