The Board Arta TechFin Corporation Limited announced that Mr. Xu Hao ("Mr. Xu") has been appointed as the Chief Executive Officer (the "CEO"), with effect from 2 January 2024, due to a change of shareholding in the Company. Mr. Xu, aged 39, has over 17 years of experience in the financial, investment, business management and capital market industry and related activities. Mr. Xu is currently the Chief Executive Officer of Avantua Group, which is principally engaged in capital management and investment and operates an integrated investment platform that encompasses private equity, public equity, and private credit.

He is also a director of certain private limited companies in which Dr. Cheng and his associates have majority beneficial interests. Prior to his appointment as the Chief Executive Officer of Avantua Group, Mr. Xu served as the vice president of Kaisa Group Holdings Ltd. and the president of Kaisa Group (International) Holdings Ltd., overseeing Kaisa Group's overall offshore businesses from 2015 to 2020. From December 2016 to March 2020, Mr. Xu initially served as a non-executive director of, and subsequently an executive director of, Kaisa Health Group Holdings Limited.

He also served as a non-executive director of Nam Tai Property Inc., a company listed on the New York Stock Exchange from August 2018 to June 2020. Prior to this, Mr. Xu worked at The Royal Bank of Scotland Group PLC, (Guangzhou Fineland Real Estate Group Holdings Ltd.) and other private investment firms. Mr. Xu holds a Bachelor of Science degree in Accounting and Finance from the London School of Economics and Political Science and a Master of Philosophy degree in Real Estate Finance from the University of Cambridge. He is a Fellow Chartered Management Accountant of The American Institute of Certified Public Accountants (AICPA) & Chartered Institute of Management Accountants (CIMA), and a Certified Environmental Social and Governance Analyst of The European Federation of Financial Analysts Societies (EFFAS).

The Board announced that Mr. Chung Koon Chung, Benny ("Mr. Chung") has resigned as the Co-Chief Executive Officer of the Company with effect from 2 January 2024 in order to devote more time to his other commitments. The Board further announced that Mr. Lau Fu Wing, Eddie ("Mr. Lau") will focus his time and efforts on the development and operations of selected business segments of the Group, including brokerage business, innovative technology, and fintech portfolio management. Accordingly, Mr. Lau has resigned as the Co-Chief Executive Officer with effect from 2 January 2024.

Following which, Mr. Lau will continue to serve in the Group and work closely with the management team on the Group's aforementioned strategic initiatives.