The board of directors of China Biotech Services Holdings Limited announced that with effect from 5 December 2022, Mr. Wang Zheng ("Mr. Wang") has resigned as a non-executive Director and Ms. Chui Hoi Yam ("Ms. Chui") has been appointed as an executive Director. Ms. Chui has been appointed as an executive Director with effect from 5 December 2022. Ms. Chui, aged 55, was a president of Harbin Pharmaceutical Group Co. Ltd. from March 2019 to May 2022 and was a director of Harbin Pharmaceutical from January 2021 to May 2022, where she was responsible for the overall business operation. Ms. Chui has previously worked in China Hewlett-Packard Co. Ltd. and Novartis International. Ms. Chui received her bachelor's degree in Economic Administration and master's degree in Finance from Peking University, the People's Republic of China in July 1990 and July 2001, respectively. Pursuant to the letter of appointment made between Ms. Chui and the Company, Ms. Chui has been appointed for a term of three years commencing from 5 December 2022 and is subject to retirement by rotation and re-election and other related provisions as stipulated in the bye-laws of the Company and the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules"). Pursuant to the bye-laws of the Company, Ms. Chui shall hold office until the first annual general meeting of the Company after her appointment and shall then be eligible for re-election at the meeting and thereafter, shall be subject to retirement by rotation at least once every three years. Ms. Chui is entitled to a director's fee of HKD 50,000 per month, which was determined by the Board on the recommendation of the remuneration committee of the Company with
reference to her duties and responsibilities, as well as the prevailing market conditions. She is also entitled to discretionary bonus and share options under share options scheme to be determined by the Board with reference to her performance and the performance of the Group.