The board of directors of China Agri-Products Exchange Limited announced that Mr. Yau Yuk Shing has resigned as an executive Director with effect from 1 April 2024 to devote more time to his other business commitments. The Board announced that Mr. Wong Ka Kit ("Mr. Wong") and Ms. Luo Xu Ying ("Ms. Luo") have been appointed as the executive Directors with effect from 1 April 2024. Mr. Wong Ka Kit, aged 52, joined the Group in August 2009.

He is the chief operating officer of the Group, the chairman of Panjin Hongjin Agricultural By-Products Wholesale Market Limited, Yulin Hongjin Logistics Development Limited and Qinzhou Hongjin Agricultural By-Products Wholesale Market Limited and a director of Yulin Hongjin Agricultural By-Products Wholesale Market Limited, all of which are subsidiaries of the Company. He is responsible for the business operations and sales in Guangxi Region, Liaoning Province and Kaifeng City. Mr. Wong holds a Master Degree in Business Administration from Hong Kong Baptist University and a Bachelor (Hons) Degree in Accountancy from The Hong Kong Polytechnic University.

He is a member of The Hong Kong Institute of Certified Public Accountants and The Association of Chartered Certified Accountants, and is a member of the 6th Guangxi Yulin Committee of the Chinese People's Political Consultative Conference. Mr. Wong has over 29 years of experience in general management and finance. Ms. Luo Xu Ying, aged 49, joined the Group in July 2017.

She has over 20 years of experience in human resources management with a graduation certificate from Zhejiang University in 2007. She is responsible for human resources management, staff allocation and enhancement of organisational performance of the Group. Ms. Luo has reformed performance management during her tenure as deputy general manager -- human resources to enhance work efficiency and optimise resource allocation.

The Board announced that Mr. Li Yin Quan ("Mr. Li") has been appointed as an independent non-executive Director with effect from 1 April 2024. Mr. Li Yin Quan, aged 69, has been serving as independent non-executive Director of Genertec Universal Medical Group Company Limited (formerly known as Universal Medical Financial and Technical Advisory Services Company Limited) since June 2015, Million Cities Holdings Limited since June 2018, Hong Kong Shanghai Alliance Holdings Limited since July 2018, China Everbright Bank Company Limited since June 2020 and, Mainland Headwear Holdings Limited since September 2023. Mr. Li served respectively as the General Manager of Financial Department, Chief Financial Officer, Vice President of China Merchants Group, Chief Executive Officer of China Merchants Capital Investment Co., Ltd, a director of China Merchants Holdings (International) Company Limited, a director of China Merchants Bank Co.

Ltd., a director of China Merchants China Direct Investments Limited from 2000 to 2017. Mr. Li also served as an independent non-executive director of Lizhi Inc. from January 2020 to June 2021 and, Kimou Environmental Holding Limited from June 2019 to Dec 2022. Mr. Li received his bachelor's degree in economics from Shaanxi Institute of Finance and Economics, master's degree in economics from Graduate School of the People's Bank of China and, master's degree in banking and finance for development from Finafrica Institute in Milan, Italy.

Immediately upon the aforesaid change of Directors, the Board also announces that with effect from 1 April 2024, the composition of the executive committee (the "Executive Committee"), the Audit Committee, the nomination committee (the "Nomination Committee") and the remuneration committee (the "Remuneration Committee") of the Company will be changed as follows: Mr. Yau has ceased to be the member of the Executive Committee; Mr. Wong and Ms. Luo have been appointed as the members of the Executive Committee; and Mr. Li has been appointed as a member of each of the Audit Committee, the Nomination Committee and the Remuneration Committee.