Golden Ponder Holdings Limited announced that with effect immediately after the publication of this joint announcement on 11 January 2023, (i) Mr. Kwok, an executive Director, will be redesignated as the chairman of the Board and appointed as the chairman of nomination committee; and (ii) Mr. Zhan, an executive Director, will be appointed as the chief executive officer and a member of the remuneration committee following the resignations of the Resigned Directors from the relevant positions.