China Pioneer Pharma : CHANGE OF DIRECTORS

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CHINA PIONEER PHARMA HOLDINGS LIMITED

中 国 先 鋒 医 药 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01345)

CHANGE OF DIRECTORS

The Board announces that with effect from the date of this announcement:

1. Mr. Wang Yinping (王引平) has resigned as a non-executive Director; and
2. Mr. Luk Chi Shing (陸志成) has been appointed as an executive Director.

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of China Pioneer Pharma Holdings Limited (the "Company", together with its subsidiaries, the "Group") announces that, with effect from the date of this announcement, Mr. Wang Yinping (王引平) ("Mr. Wang") has resigned as a non-executive Director so that he can devote more time to his other commitments.

Mr. Wang confirmed that he has no disagreement with the Board in any respect and that there are no matters that need to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and shareholders of the Company (the "Shareholders") in relation to his resignation. Mr. Wang does not hold any positions in the Group following his resignation.

The Board would like to express its sincere gratitude to Mr. Wang for his valuable contribution to the Company during his tenure of office.

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APPOINTMENT OF EXECUTIVE DIRECTOR

The Board announces that, with effect from the date of this announcement, Mr. Luk Chi Shing (陸志成) ("Mr. Luk") has been appointed as an executive Director.

The biography of Mr. Luk is set out below:

Mr. Luk, aged 50, graduated from City University of Hong Kong in 1993, with a Bachelor of Arts in Accountancy. Mr. Luk is a fellow member of the Hong Kong Institute of Certified Public Accountants and Association of Chartered Certified Accountants.

Mr. Luk held directorships with the following companies during the periods indicated:

	Exchange where
Company	the shares
are listed	Role	Period
Hang Tai Yue Group Holdings	GEM of the Stock	independent	December 2011 to
Limited (formerly known as	Exchange	non-executive	August 2015
Interactive Entertainment		director
China Cultural Technology
Investments Limited)
(stock code: 8081)
Dafeng Port Heshun	GEM of the Stock	independent	February 2014 to
Technology Company	Exchange	non-executive	March 2016
Limited (formerly known as		director
Gamma Logistics Corporation)
(stock code: 8310)
hmvod Limited (formerly	GEM of the Stock	executive director	April 2014 to
known as Trillion Grand	Exchange		March 2016
Corporate Company
Limited)
(stock code: 8103)
CircuTech International	GEM of the Stock	independent	April 2015 to
Holdings Limited	Exchange	non-executive	June 2016
(formerly known as		director
TeleEye Holdings Limited)
(stock code: 8051)
China Saite Group Company	Main Board	independent	January 2017 to
Limited	of the Stock	non-executive	July 2019
(stock code: 0153)	Exchange	director
Chinese Energy Holdings	GEM of the Stock	independent	February 2018 to
Limited (stock code: 8009)	Exchange	non-executive	now
		director

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Mr. Luk was the company secretary and financial controller of Silk Road Energy Services Group Limited (stock code: 8250), a company listed on GEM of the Stock Exchange, from January 2012 to November 2015. Mr. Luk has accumulated over 20 years of working experience in the fields of auditing, financial accounting and management, as well as corporate merger and acquisition.

Mr. Luk has entered into a service contract (the "Service Contract") with the Company for a term of three years and his appointment is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company. Pursuant to the Service Contract, Mr. Luk is entitled to an annual salary of HK$720,000 and a discretionary bonus at the discretion of the Board. Mr. Luk's remuneration was determined with reference to his duties and responsibilities in the Group and the market rate for the position.

Mr. Luk has been a director of certain subsidiaries of the Company prior to joining the Board.

Mr. Luk has confirmed that, save as disclosed in this announcement, as at the date of this announcement: (i) he does not hold any other position in the Group; (ii) he has no relationship with any other Directors, senior management, substantial shareholders or controlling shareholders (as defined in the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules")) of the Company; (iii) he does not hold any directorship in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years; (iv) he is not interested (within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) in the shares or any other securities of the Company; and (v) there is no other information required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules, and he is not aware of any other matters in relation to his appointment that need to be brought to the attention of the Stock Exchange and the Shareholders of the Company.

The Board would like to take this opportunity to express its warmest welcome to Mr. Luk in joining of the Board.

By order of the Board

China Pioneer Pharma Holdings Limited

LI Xinzhou

Chairman

Hong Kong, 20 December 2019

As at the date of this announcement, the Directors are Mr. LI Xinzhou, Mr. LUO Chunyi and Mr. LUK Chi Shing as executive directors, Mr. WU Mijia and Mr. HUI Lap Keung as non-executive directors and Mr. ZHANG Hong, Mr. YAN Guoxiang and Mr. WONG Chi Hung, Stanley as independent non-executive directors.

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