The board of directors of Beijing Capital Grand Limited announces that Ms. Peng Sisi ("Ms. Peng'') has tendered her resignation as the company secretary of the Company, the authorised representative of the Company (the ``Authorised Representative'') pursuant to the Rules Governing the Listing of Securities ("Listing Rules'') on The Stock Exchange of Hong Kong Limited (the ``Stock Exchange'') and the authorised representative for the acceptance of service of process and notices in Hong Kong on behalf of the Company pursuant to the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Process Agent'') with effect from 15 October 2023. Ms. Peng has confirmed that she has no disagreement with the Board and there are no matters relating to her resignation that need to be brought to the attention of the shareholders of the Company. The Board announced that, following the resignation of Ms. Peng, Ms. Wang Xia ("Ms. Wang'') and Mr. Ng Lok Ming ("Mr. Ng'') will be appointed as the joint company secretaries of the Company (the "Joint Company Secretaries'' and each a "Joint Company Secretary'') with effect from 15 October 2023.

Ms. Wang joined the Company in May 2015 as a general manager of the Capital Management Centre and was appointed as the secretary of the Board in October 2018. Ms. Wang was further appointed as a general manager (director) of the Strategic Cooperation Centre (the Board's Office) in December 2022. Ms. Wang served as the manager of the President's Office of Dalian Hanfeng Group Company and the general manager of its Dalian company from January 2000 to April 2002.

Ms. Wang served as a member of the Preparatory Office, an executive secretary of the General Manager's Office, a director of Strategic Planning Department and a director of Process Planning and Customer Relationship Management Department of ING Capital Life Insurance Company Ltd. from May 2002 to November 2006. From December 2009 to March 2010, Ms. Wang was a communications and specialised projects manager of the Strategy and Business Development Department of Pfizer Investment Co. Ltd. Ms. Wang joined Beijing Capital Land Ltd. in July 2010 and served as a professional manager of the Capital Management Centre, a premier manager and later a senior manager of corporate governance.

Ms. Wang obtained a bachelor's degree and a master's degree in engineering from Shaanxi University of Science and Technology (formerly known as ``Northwest Institute of Light Industry'') in July 1997 and April 2000 respectively. She later obtained a master's degree in business administration from Tsinghua University (the Tsinghua-MIT Global MBA Program) in July 2009. She obtained the qualification certificate for the secretary of the Board of Directors of the Shenzhen Stock Exchange in June 2021.

She also obtained the Financial Risk Manager certification issued by the Global Association of Risk Professionals in October 2022. Mr. Ng is a solicitor of the High Court of the Hong Kong Special Administrative Region and a lawyer in the Guangdong-Hong Kong-Macao Greater Bay Area. In additional to Mr. Ng's experience as legal director of Alibaba Group Holding Limited from November 2015 to November 2020, he had for many years worked as general counsel/head of legal and company secretary for companies listed on the Main Board of the Stock Exchange.

Mr. Ng graduated from the University of Hong Kong with a Bachelor of Laws and a Postgraduate Certificate in Laws in 1995 and 1996 respectively. He later obtained a Master of Laws in Chinese and Comparative Law from the City University of Hong Kong in 2002. The Board further announces that Mr. Fan Shubin, the chairman and executive director of the Company, has been appointed as the Authorised Representative and Mr. Ng has been appointed as the Process Agent with effect from 15 October 2023.