The board of directors of China United Venture Investment Limited announced that Mr. Ni Xian (Mr. Ni), an executive Director of the company, will be re-designated as a non-executive Director of the company with effect from 22 November 2023. Mr. Ni, aged 37, joined the Company as an executive Director on 4 March 2022. Mr. Ni has assisted companies in making public offerings and seeking listing on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and has accumulated working experience in a number of well-known financial advisory companies.

He passed the National Judicial Examination in the PRC, the Test for English Majors - Band 8, and the Fund Qualification Examination. Mr. Ni also has the experience in corporate investment and financing, corporate governance and financial management. Mr. Ni acted as the President Assistant of Pa Shun International Holdings Limited, the issued shares of which are listed on the Stock Exchange, where he was responsible for making assessments on acquisitions and investment projects, conducting due diligence investigations on finance, business and legal issues, assisting in completing the IPO of Pa Shun International Holdings Limited in June 2015, assisting in monitoring the progress of projects and financial position of projects, and assisting the chief executive officer in developing the long- medium term development strategies and dealing with the relationships with investors.

From 31 December 2020 to 4 December 2021, Mr. Ni was an executive director of Lamtex Holdings Limited, the issued shares of which was once listed on the Stock Exchange and was subsequently delisted from the Stock Exchange on 20 April 2022. Mr. Ni graduated from Northwest University of Political Science and Law with a bachelor's degree in legal English in 2008. He subsequently obtained a master's degree in Law from the Law School of Huaqiao University in 2011.

Mr. Ni will enter into a letter of appointment with the Company for an initial term of two years, subject to retirement by rotation and re-election in accordance with the bye-laws of the Company. Mr. Ni will have no fixed remuneration but he is entitled to receive director's fee and/or remuneration as determined by the Board from time to time based on his performance, experience, responsibilities and prevailing market conditions. The Board hereby also announced that Ms. Ng Tien Che Margaret (Ms. Ng) has tendered her resignation as the (i) company secretary (the "Company Secretary"); and (ii) process agent of the Company with effect from 16 October 2023.