The board of China Environmental Resources Group Limited announced that Mr. Lee Chi Ho has been appointed as an independent non-executive Director, the chairman of the audit committee and a member of each of the remuneration committee and the nomination committee of the Company effective from 5 December 2023. Mr. Lee Chi Ho, aged 41, is a fellow member of the Association of Chartered Certified Accountants and has over 15 years of experience in finance, auditing and accounting sectors. He has been serving as the chief financial officer in three companies listed in Hong Kong, namely (i) TOMO Holdings Limited since April 2023; (ii) Fullwealth International Group Holdings Limited since May 2023; and (iii) Carry Wealth Holdings Limited since November 2023.

From August 2019 to April 2023, Mr. Lee worked for Zhongshan Pacific Lighting Co. Ltd. as a general manager. Prior to that, he served as the chief financial officer of Gold-Finance (Holdings) Group Company Limited from June 2014 to August 2015; Huajin International Holdings Limited from July 2015 to June 2017; and (iii) Mastermind Manufacture Limited from January 2018 to August 2019.

During the period from August 2004 to December 2013, Mr. Lee served as an auditor in Deloitte Touche Tohmatsu in Hong Kong and its affiliates operating in Shenzhen and Shanghai. He obtained his Bachelor of Arts in Accountancy from The Hong Kong Polytechnic University in November 2004. Mr. Lee has entered into a letter of appointment with the Company for a term of three years commencing from 5 December 2023, subject to retirement by rotation and re-election in accordance with the articles of association of the Company and the Rules Governing the Listing of Securities (the "Listing Rules'') on The Stock Exchange of Hong Kong Limited (the "Stock Exchange'').

Pursuant to the letter of appointment, Mr. Lee is entitled to a Director's fee of HKD 120,000 per annum which is determined by the Remuneration Committee and the Board with reference to his qualifications, experience, level of responsibilities undertaken and the prevailing market conditions. Such remuneration is subject to annual review by the Remuneration Committee and the Board. The Board announces the following changes in composition of Board committees effective from 5 December 2023: Mr. Yeung Chi Hang, an existing executive Director, the chief executive officer and the chairman of the Board, has ceased to be a member of each of the Remuneration Committee and the Nomination Committee; and Mr. Lee has been appointed as the chairman of the Audit Committee and a member of each of the Remuneration Committee and the Nomination Committee.