The board of directors of Asiaray Media Group Limited announced that Mr. Yang Peng (Mr. Yang) has resigned from being a non-executive Director with effect from 18 April 2023 as he is relocating to another country to focus on his other business. Mr. Yang has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board also announced that Ms. Wu Xiaopin (Ms. Wu) has been appointed as a non-executive Director with effect from 18 April 2023.

Ms. Wu, aged 49, has more than 20 years of experience in investment and capital markets. Ms. Wu joined Ant Group in 2018 and has held various positions including Managing Partner of Ant Unicorn Fund, Head of Fund Investments and Head of Capital Markets. Prior to joining Ant Group, Ms. Wu spent 18 years in investment banking industry and worked at The China Securities Regulatory Commission (CSRC), Shenzhen Stock Exchange, Bank of China International, Citigroup and Deutsche Bank with her last position being Head of China Equity Capital Markets for Deutsche Bank.

Ms. Wu obtained her master's degree in economics and finance from the Graduate School of the People's Bank of China (Wudaokou) in 2001. The Board would like to take this opportunity to express its sincere gratitude to Mr. Yang for his valuable contributions during his tenure of office, and the Board would like to express its warm welcome to Ms. Wu for joining the Board as a non-executive Director.