CAQ Holdings (CAQ) announced of the immediate appointment of Dr. Colin Zhao as a non- executive director of CAQ. Dr. Zhao has extensive experience in business management and corporate finance. Dr. Colin Zhao, aged 58, currently the President of the Digital Economy Council of the EU-China Commission.

Dr. Zhao received a bachelor's degree from the School of Traditional Chinese Medicine and Surgery in 1985, and a master's degree from the Tianjin Chinese and Western Medical Integrated Research Institute in 1991. Later, in 1995, he received a doctorate degree from Tianjin University of Traditional Chinese Medicine. Dr. Zhao emigrated to Australia in 1995 and from 1997 to 1998 he worked as a assistant professor in the Faculty of Arts at the University of Melbourne.

From 1998 to 2006, Dr. Zhao served as Executive Director and the CEO of JNS Group Co. Ltd., a company incorporated in Australia, which involved multiple industries including property development, biological science and technology and food industry. From 2010 to 2011, Dr. Zhao was the CEO of Hong Kong Yufeng Capital.

From 2012 to 2014, he was CEO of IDG Zhejiang Tongling Aviation Base. Between 2015 to 2020, he was the CEO of IDG Zhejiang Tongling Healthcare Base. From 2022 to 2023, he was a general partner of the China EU Fund and the Zhong Qiao Fund (QFLP).

Dr. Zhao has not held any directorship in other ASX listed public Companies in the last three years. CAQ further advised that contemporaneous with the appointment of Dr. Zhao long serving director, Mr. Ivan Cheng has resigned as a director of CAQ. Mr. Cheng has been a director of CAQ for over eight years.