The board of directors of China Metal Resources Utilization Limited announced that Mr. GAO Qiang (Mr. Gao) has been appointed as an executive Director of the company with effect from 2 September 2022. Mr. GAO Qiang, aged 53, graduated from Shanghai Theatre Academy in 1994 with a bachelor degree in acting. Mr. Gao has been serving as an executive director of Yawei Culture Media (Shanghai) Co.

Ltd. and Xing Jiu Culture Media (Shanghai) Co. Ltd. since January 2019 and March 2019, respectively. He also currently serves as the secretary general of China Literature and Art Foundation Folk Art Special Fund and an honorary curator of Jin Shangjing History Museum.

Mr. Gao's background and experience in corporate management and project management would allow him to contribute to the Group by providing leadership and views from a different perspective and assist the Group in navigating through challenges and seizing business opportunities. Pursuant to the service contract to be entered into by the Company and Mr. Gao, his initial term of office is 2 years and shall continue unless terminated in accordance with the terms and condition specified therein. Mr. Gao will hold office until the first general meeting to be convened by the Company and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with its articles of association.

He is eligible to participate in the share option scheme of the company and entitled to receive a director's fee of HKD 180,000 per annum and discretionary bonus, which is determined by the Board based on the recommendation of the remuneration committee of the Company after taking into account, among others, his qualifications, experience, responsibilities undertaken and the prevailing market level of remuneration for similar position, and is subject to annual review with reference to the prevailing market condition, his duties and responsibilities in and the time he spent on the affairs of the company.