The board of directors of Zhongsheng Group Holdings Limited announced that Mr. Hsu David has resigned as a non-executive director of the Company with effect from 1 August 2022. The resignation of Mr. Hsu is due to his retirement. The Board announced that Mr. Sun Yanjun has been appointed as a non-executive director of the Company with effect from 1 August 2022.

The biographical information of Mr. Sun is set out below: Mr. Sun Yanjun, aged 52, has over two decades of principal investing, M&A and capital markets experience. Prior to joining Jardine Matheson Group in 2022, he was a Partner and Co-head of China at TPG Capital, leading private equity investments and facilitating business development efforts for TPG's global business units in China, including cross-border transactions and strategic partnerships. He was previously Managing Director in Goldman Sachs' Principal Investment Area -- the investment bank's private equity unit -- responsible for Greater China investments.

Mr. Sun is an independent non-executive director of China National Building Material Company Limited (a company listed on The Stock Exchange of Hong Kong Limited. He has been an alternate director and an alternate member of the audit committee of Greatview Aseptic Packaging Company Limited to Mr. Pang Yiu Kai, a non-executive director of Greatview Aseptic, since 1 August 2022. He was a non-executive director of Phoenix Media Investment (Holdings) Limited from 5 November 2013 to 16 August 2019.

Mr. Sun received a bachelor's degree in international finance from Renmin University of China () in July 1992 and an MBA degree with high distinction from University of Michigan in May 1997. The Board announced that Mr. Tang Xianfeng has been appointed as the chairman of compliance committee of the Company with effect from 1 August 2022. The Board of the Company announced that the Stock Exchange has confirmed that Ms. Yao, a current joint company secretary of the Company, is qualified to act as the company secretary of the Company under Rule 3.28 of the Listing Rules.

As a result, Ms. Mak Sze Man, the other joint company secretary of the Company, has resigned as a joint company secretary of the Company with effect from 1 August 2022. Ms. Yao will continue to serve as the sole company secretary of the Company after the resignation of Ms. Mak.