The board of directors of Capital Finance Holdings Limited announced that Mr. Zhang Wei (Mr. Zhang) has resigned as the chairman of the Board (the Chairman) with effect from 17 November 2023 in order to devote more time to other work arrangements. Mr. Zhang remains to serve as executive Director, the chief executive officer, member of the nomination committee and the authorized representative under Rule 5.24 of the Rules Governing the Listing of Securities on GEM of the Exchange (the GEM Listing Rules) of the company after his resignation as the chairman. The board announced that Mr. Mang Sheung Lok (Mr. Mang), an executive director and vice chairman of the company, has been re-designated from vice chairman to the chairman of the board with effect from 17 November 2023.

Mr. Mang, aged 35, has been appointed as the executive Director, Vice Chairman and a member of the nomination committee since 25 April 2023. Mr. Mang has extensive experience in the fields of real estate, financial market and personal healthcare and hygiene industry. He is currently a managing director and the founder of a private company incorporated in Hong Kong with limited liability which is principally engaged in anti-bacterial and anti-viral coating solution for residential and commercial building, shopping mall and government building in Hong Kong.

He was also the vice president of a private equity fund in the People's Republic of China. Mr. Mang has participated in community services in Mainland China and Hong Kong to promote interaction and communication between Mainland China and Hong Kong young business talents in recent years and he is currently a director of Hong Kong United Youth Association Limited.