Asian Capital Resources (Holdings) Limited announced that effect from 1 September 2022, Mr. Wu Jixue will retire from an independent non-executive Director of the Company due to his desire to retire at the age of 76 and devote more time to his personal endeavours. Upon his retirement, Mr. Wu will also cease to act as the chairman of the remuneration committee and member of the audit committee of the Company. The Board further announces that with effect from 1 September 2022, the Board has appointed Dr. Zhang Jin as an Independent Non-Executive Director to fill the casual vacancy on the Board due to the retirement of Mr. Wu.

Dr. Zhang will also be appointed as the chairman of the Remuneration Committee and a member of the Audit Committee. Dr. Zhang, female, aged 39, obtained her Doctor of Philosophy in Population, Resource and Environmental Economics and a master degree in Engineering in Project Management from Huazhong University of Science and Technology in 2016 and 2010, respectively . She had obtained the professional technology qualification of lecturer in Economic Management of Hubei Radio and Television University in 2011.

Dr. Zhang worked as a postdoctoral researcher in applied economics at Peking University and had over 10 years of research experience in economics. She is currently being a senior researcher at Sino Research Institute of Green Finance and an assistant to the general manager of Beijing Beetech Inc., a company listed on the Shenzhen Stock Exchange. Dr. Zhang has also been appointed as the chairman of the Remuneration Committee and the member of Audit Committee with effect from 1 September 2022.

the Remuneration Committee comprises one executive Director and two Independent Non-executive Directors, namely Mr. Xie Xuan, Mr. Zheng Hongliang, and Dr. Zhang, of whom Dr. Zhang is the chairman; and the Audit Committee comprises three Independent Non-executive Directors, namely Dr. Wang Yi, Mr. Zheng Hongliang and Dr. Zhang, of whom Dr. Wang Yi is the chairman.