China Demeter Financial Investments Limited announced that due to reallocation of responsibilities amongst the Group's management, with effect from 5 January 2023, Mr. Ng Man Chun Paul ("Mr. Ng") has been re-designated from a non-executive Director to an executive Director and will remain as the chairman of the Board. Mr. Ng, aged 51, was appointed as an executive Director with effect from 15 November 2016 and re-designated to a non-executive Director from 4 October 2021 before his re-designation as an executive Director as set out in this announcement. He has been appointed as the chairman of the Board, with effect from 14 June 2019.

Mr. Ng was also the chief executive of the Company from 15 November 2016 to 1 December 2020. Mr. Ng obtained a Bachelor of Science from Columbia University, New York, the United States of America in May 1993. Prior to joining the Group, he has worked in various international investment banks and securities firms and is experienced in the area of finance and investments.

Mr. Ng is (i) a cousin of Mr. Ng Ting Ho, an executive Director; and (ii) a cousin of Mr. Ng Ting Kit, a controlling shareholder of the Company.