The board of directors of Hengxin Technology Ltd. announced that Mr. Tam Chi Kwan Michael ("Mr. Tam") has tendered his resignation as an independent non- executive Director, the chairman of the audit committee, a member of the remuneration committee and a member of the nominating committee of the Company with effect from 17 November 2023 as he wants to devote more time to pursue his other commitments. Mr. Tam has confirmed to the Board that he has no disagreement with the Board and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board also announced that Mr. Qian Ziyan ("Mr. Qian") has been appointed as an independent non-executive Director, the chairman of the audit committee, a member of the remuneration committee and a member of the nominating committee of the Company with effect from 17 November 2023. Mr. Qian, aged 56, is the Chief Financial Officer of Multi-Fineline Electronix Inc. since May 2009 and a part-time teacher of the MBA programme operated by the School of Management of Zhejiang University since March 2012. From 1999 to 2009, Mr. Qian has served as the Chief Financial Officer and senior finance positions of various technology and multinational corporations in China, Singapore and Europe. Mr. Qian had been an independent director of RIGOL Technologies Co. Ltd. between September 2020 and December 2022. Mr. Qian obtained a Bachelor of Arts degree in English of Science & Technology from Xi'an Jiaotong University in 1989 and obtained a Degree of Master of Business Administration (Accountancy) from Nanyang Technological University in 1999. Mr. Qian is currently a Chartered Accountant of Singapore admitted by the Institute of Singapore Chartered Accountants (ISCA) and a Fellow Charted Management Accountant (FCMA) and Chartered Global Management Accountant (CGMA) of the Chartered Institute of Management Accountants (CIMA). Change of Composition of Audit Committee, Remuneration Committee and Nominating Committee:
Following the resignation of Mr. Tam as an independent non-executive Director, the chairman of the audit committee, a member of the remuneration committee and a member of the nominating committee of the Company, Mr. Qian is appointed to be the chairman of the audit committee, a member of the remuneration committee and a member of the nominating committee of the Company with effect from 17 November 2023.