The board of directors of China South City Holdings Limited announced the following changes of Directors with effect from 6 January 2023: Ms. Shen Lifeng ("Ms. Shen") has been re-designated from an Independent Non-Executive Director to a Non-Executive Director and ceased to serve as a member of each of the nomination committee (the "Nomination Committee") and the remuneration committee (the "Remuneration Committee") of the Company. She remains to be a member of the audit committee (the "Audit Committee") of the Company; and Ms. Helen Zee (Ms. Zee) has been appointed as an Independent Non-Executive Director and a member of each of the Nomination Committee and the Remuneration Committee of the Company. Ms. Shen Lifeng, aged 56, was appointed as an Independent Non-Executive Director in June 2022 and has been re-designated as a Non-Executive Director of the Company with effect from 6 January 2023.

Prior to joining the Group, Ms. Shen served as the legal director and deputy general manager of China Textile Import & Export Corporation Hebei Branch Company, the executive deputy general manager of Shenglun Import & Export Group Co., Ltd, the vice chairman of board of directors and the general manager of Shaanxi Kunzheng Mining Co. Ltd., the chief executive officer of Hong Kong Porda Havas International Financial Communication Group. Ms. Shen is currently an executive director of China Tianbao Group Development Company Limited and an independent non-executive director of Hebei Construction Group Corporation Limited, shares of both companies are listed on The Stock Exchange of Hong Kong Limited.

She is also the deputy secr an independent director of Shenzhen SEZ Construction and Development Group Co. Ltd. Ms. Shen obtained a Master's degree in Sociology from the University of Hong Kong, a Master's degree in Economics from Hebei University, and a Ph.D in Civil and Commercial Law from Peking University. Ms. Helen Zee, aged 55, has been appointed as an Independent Non-Executive Director and a member of each of the Nomination Committee and the Remuneration Committee of the Company.

Ms. Zee has almost 20 years of experience in investment banking and corporate finance, and held various senior positions including Deputy Chief Executive and Managing Director in Haitong International Capital Limited from 2013 to 2019. Ms. Zee has vast experiences in public services, she is currently a member of the Mandatory Provident Fund Schemes Advisory Committee, University Grants Committee and Cyberport Advisory Panel. She is also a member of as well as chairperson of the Investment Committee of the Hong Kong Deposit Protection Board, and a member of the Police Children's Education Trust Investment Advisory Board and the Police Education and Welfare Trust Investment Advisory Board.

She was a former member of the Listing Committee of the Main Board and GEM of The Stock Exchange of Hong Kong Limited from 2013 to 2019. In addition, Ms. Zee is an independent non-executive director of Henderson Sunlight Asset Management Limited (as the manager of Sunlight Real Estate Investment Trust (stock code: 435), a real estate investment trust listed on The Stock Exchange of Hong Kong Limited). Ms. Zee holds a Bachelor of Science, Business Administration degree from University of California, Berkeley, and is a member of the American Institute of Certified Public Accountants.

Following the re-designation of Ms. Shen as a Non-Executive Director and appointment of Ms. Zee as an Independent Non-Executive Director, (i) Ms. Shen has ceased to serve as a member of each of the Nomination Committee and the Remuneration Committee of the Company but remains to be a member of the Audit Committee; and (ii) Ms. Zee has been appointed as a member of each of the Nomination Committee and the Remuneration Committee of the Company, with effect from 6 January 2023.