AVIC Joy Holdings (HK) Limited announced that Mr. CHAN Hon Wai has tendered his resignation as an Executive Director, the Chairman of the Board and ceased to be Chairman of Nomination Committee with effect from 30 January 2022; Mr. TSE Tin has tendered his resignation as an executive Director and ceased to be a member of the Remuneration Committee with effect from January 31, 2022; Mr. LIU Jing Wei has tendered his resignation as an independent non-executive Director and ceased to be a member of each of the Nomination Committee, the Remuneration Committee and the Audit Committee with effect from January 31, 2022; and Mr. ZHENG Yanqing has tendered his resignation as an independent non-executive Director and ceased to be a member of each of the Nomination Committee, the Remuneration Committee and the Audit Committee with effect from January 31, 2022. The Board also announced that with effect from February 4, 2022; Mr. CHANG Chien as an executive Director, has been appointed as the Chairman of the Board; Mr. ZHU Chengye has been appointed as an executive Director and Mr. WENG Huaren has been appointed as an independent non-executive Director. The Board also announced that with effect from 4 February 2022; Mr. TO Chun Kei has been appointed as the chairman of the Nomination Committee; and Mr. Weng has been appointed as a member of the Audit Committee, the Remuneration Committee and the Nomination Committee.

Mr. Zhu,currently served as Director of a subsidiary of Citychamp Watch & Jewellery Group Ltd. During 2015­2020, Mr. Zhu served as Deputy President of the Bank of Beijing Jianguo Branch, and President of Nanwei Lu Branch, provide financing service to technology business clients. Mr. Weng has over 30 years extensive experience in Agricultural Bank of China. From January 2017 to July 2020, he served as the general manager of the Internal Control and Compliance Department of Fujian Agricultural Bank.