China Supply Chain Holdings Limited announces that Mr. Huang Shuhui will resign as an independent non-executive Director of the Company and ceased to be a member of the audit committee of the Company and the Chairman of the remuneration committee of the Company with effect from 14 June 2023 in order to devote more time to his other business commitments. In light of Mr. Huang Shuhui's departure, the Board announced that Mr. Zheng Haipeng ("Mr. Zheng"), will be appointed as an independent non-executive Director of the Company and will serve as a member of the Audit Committee and the Chairman of the Remuneration Committee in place of Mr. Huang Shuhui with effect from 14 June 2023. Mr. Zheng, aged 28, holds a Bachelor of Science in Business Administration from the University of Vermont and Master of Science with Merit in Investment and Finance from the Queen Mary University of London.

Mr. Zheng acts as investment manager in investment development center of Eternal Asia Supply Chain Management Ltd. since 17 June 2021. Mr. Zheng has been participated in various investment research projects. He has professional knowledges regarding financial investment, securities, and marketing.

Mr. Zheng has entered into an appointment letter with the Company for a term of three years commencing from 14 June 2023, subject to rotation and re-election at annual general meetings of the Company in accordance with the Articles. The appointment of Mr. Zheng can be terminated by either party by giving not less than one month's written notice in advance. Mr. Zheng will be entitled to an annual director's fee of HKD 132,000.00, which is determined by arm's length negotiation between Mr. Zheng and the Company with reference to his duties and responsibilities in the Company, and the prevailing market conditions.

The amount of his remuneration package has been approved by the Board and the Remuneration Committee. The Board also announces that, with effect from 14 June 2023, Ms. Chan Lok Yin will resign as the Company Secretary of the Company. Following the resignation of Ms. Chan, the Board announced that Mr. Hung Kai Ming will be appointed as the Company Secretary of the Company with effect from 14 June 2023.

Mr. Hung, holds a Master of Professional Accounting from The Hong Kong Polytechnic University and Honours Diploma in Accounting from Hong Kong Shue Yan College (currently known as Hong Kong Shue Yan University). Mr. Hung is a fellow member of the Association of Chartered Certified Accountants and a member of the Hong Kong Institute of Certified Public Accountants. Prior to joining the Company, Mr. Hung has acquired various accounting, auditing, finance and company secretarial work experience from accounting firms and listed company.

Mr. Hung has over 20 years of experience in accounting, auditing and finance.