The board of directors of China Agri-Products Exchange announced that Mr. Tang Ching Ho (Mr. Tang), a non-executive Director, will be re-designated as an executive Director with effect from 1 October 2022. Upon the re-designation, Mr. Tang will also be appointed as the chairman of the executive committee of the company (the executive committee) and a member of each of the remuneration committee and nomination committee of the company (the nomination committee). The detailed biography of Mr. Tang is as follows: Mr. Tang Ching Ho, GBS, JP, aged 60, joined the Group as a non-executive Director and the chairman of the Board in February 2021.

He is also an authorised representative of the company. Mr. Tang is a co-founder of Wang On Group Limited ("WOG"), which was established in 1987, and has been the chairman of WOG since November 1993. He has extensive experience in corporate management.

He is also the chairman and managing director of Wai Yuen Tong Medicine Holdings Limited. Mr. Tang is a committee member of the 12th and 13th National Committee of the Chinese People's Political Consultative Conference and is also appointed as a standing committee member and convener of the 10th to 12th plenary sessions of the CPPCC Guangxi Zhuang Autonomous Region Committee. Mr. Tang is also appointed as the first executive chairman of the Federation of Hong Kong Guangdong Community organizations and the chairman of Federation of Hong Kong Shenzhen Association.

He is the brother-in-law of Mr. Yau Yuk Shing, an executive Director. Pursuant to a service agreement entered into between Mr. Tang and the Company on 30 September 2022 regarding Mr. Tang's re-designation with effect from 1 October 2022, Mr. Tang will be entitled to receive a director's fee of HKD 1,000,000 per month with regard to his duties and responsibilities and a discretionary bonus as determined by the Board. The term of Mr. Tang's appointment is subject to retirement by rotation and re-election in accordance with the bye-laws of the company.

The board also announced that Mr. Leung Sui Wah, Raymond (Mr. Leung) has tendered his resignation as the company secretary of the Company (the company secretary) with effect from 1 October 2022. Mr. Leung confirmed that he has no disagreement with the Board and there is no matter relating to his resignation which needs to be brought to the attention of the Stock Exchange or the shareholders of the company. The board is also announced that Ms. Ng Yee Man, Fiona (Ms. Ng) has been appointed as the company secretary with effect from 1 October 2022.

Ms. Ng is a fellow member of the Association of Chartered Certified Accountants and an associate member of Hong Kong Institute of Certified Public Accountants, the Hong Kong Chartered Governance Institute and the Chartered Governance Institute. She has over 25 years of experience in finance, accounting and corporate secretarial functions, including over 15 years of experience in handling listed company secretarial and compliance related matters of Hong Kong listed companies. She holds a bachelor degree of commerce (accounting) from Curtin University of Technology, Australia.

Before joining the Group, Ms. Ng worked in various listed companies as company secretary and financial controller. Following Mr. Tang's re-designation and Ms. Ng's appointment, Mr. Leung will cease to be the chairman and will remain as a member of the Executive committee. He will continue to serve as an executive Director, the chief executive officer, an authorized representative of the company and a member of the nomination committee.