The board of directors of China Maple Leaf Educational Systems Limited announced that Ms. Jingxia Zhang (Ms. Zhang) has tendered resignation as co-chief financial officer of the company due to age and health reasons. Following her resignation as co-chief financial officer, Ms. Zhang will continue to serve the company as a consultant to the Board. Ms. Zhang is currently an executive Director and Co-CFO.

After her resignation as an executive Director and Co-CFO with effect from 1 March 2024, she will continue to be a connected person of the Company for a period of 12 months. Accordingly, the Consultancy Arrangement and the transactions contemplated thereunder constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules. The board is also announced that on 16 January 2024, the board resolved appointment of Mr. King Pak Lau (Mr. Lau) as co-chief financial officer following the resignation of Ms. Zhang with effect from 1 March 2024.

Mr. Lau, aged 52, has more than 26 years of experience in the accounting and auditing industry. Mr. Lau obtained a bachelor degree of Business Administration in Accounting from the Hong Kong University of Science and Technology in 1995. Mr. Lau worked at KPMG from August 1995 to January 1997, with his last position as accountant.

Mr. Lau worked in Beijing office of Ernst & Young from September 2000 to April 2011, with his last position as a partner. Mr. Lau joined Deloitte and was a partner from April 2011 to January 2021. He was a managing director of MC CPA Ltd, a certified public accountant firm in Hong Kong from January 2022 to November 2022.

Mr. Lau is a practicing member of the Hong Kong Institute of Certified Public Accountants and holds a Certified Public Accountant (Practising) certificate issued by Accounting and Financial Reporting Council. Mr. Lau previously served as a non-executive director, member of the audit committee, the nomination committee and the remuneration committee of Dream East Group Limited from 17 June 2022 to 28 June 2023. Mr. Lau joined the company on 28 February 2023 as an independent non-executive Director and is also currently serving as the chairman of each of the audit committee of the Board and the IBC and he will cease to act as such with effect from 1 March 2024 as a result of the re-designation.