The board of directors of China Vered Financial Holding Corporation Limited announced that with effect from 22 March 2024, (1) Mr. Xie Fang has been appointed as an executive director of the Company, (2) Mr. Sun Junchen, Mr. Ko Ming Tung, Edward and Mr. Wong Ka Wai have been appointed as independent non-executive directors of the Company, and as members of the remuneration committee, nomination committee and audit committee of the Company, (3) Ms. Du Lina, an executive Director, has been appointed as the chairperson of the Board, (4) Ms. Zhou Hui has resigned as an independent non-executive Director, the chairman of the Audit Committee, a member of the Remuneration Committee and the Nomination Committee; (5) Mr. Cheng Tai Sheung, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee and (6) Mr. Wong has been appointed as the chairman of the Audit Committee. Mr. Xie, aged 37, joined the Company as the head of risk management department in May 2021 and has been appointed as the Chief Risk Officer of the Company since 30 September 2022 and has directorship in a number of subsidiaries of the Company. Prior to this, Mr. Xie served as a senior manager, vice president and senior vice president of the risk management department of CITIC Securities Company Limited from July 2010 to February 2021.

Mr. Xie obtained his master's degree in computer science and technology from the Tsinghua University in 2010. Mr. Xie was certified as a qualified Financial Risk Manager by the Global Association of Risk Professionals in December 2017. Mr. Xie is expected to enter into a separate service agreement with the Company for his role as an executive Director for a term of 3 years with effect from 22 March 2024, provided that either party may terminate such service contract at any time by giving at least 3 months' notice in writing.

In accordance with the Company's articles of association, Mr. Xie's appointment as an executive director is subject to retirement by rotation and re-election at the Company's general meetings. The remuneration package of Mr. Xie will be determined by the Board and the Remuneration Committee in due course by reference to his duties, responsibilities, experience, time commitment, performance of the Group as well as the market benchmark and the prevailing market conditions and will be reviewed by the Board and the Remuneration Committee from time to time. Mr. Sun, aged 35, has been serving as the vice president of investment development of Newborn Town Inc., a company listed on The Stock Exchange of Hong Kong Limited, since April 2023, and is primarily responsible for its innovative business.

Prior to this, Mr. Sun worked at PricewaterhouseCoopers Zhong from October 2011 to May 2015, with his last position held as a senior associate. From May 2015 to October 2015, he worked at Shenwan Hongyuan Securities Co. Ltd. Beijing Branch (), with his last position held as a senior manager.

From October 2015 to February 2017, he worked at MicroMedia Holdings Limited, with his last position held as the finance director. From February 2017 to April 2023, he worked at Beijing BlueCity Information & Technology Co., Ltd, with his last position held as the chief financial officer. Mr. Sun obtained his bachelor's degree in accountancy in June 2011 from the Tianjin University of Finance and Economics ().

He obtained his master's degree in business administration from the Peking University in July 2018. He was also accredited as a Certified Public Accountant by the Chinese Institute of Certified Public Accountants in April 2015. Mr. Ko, aged 63, has more than 32 years of experience in the legal profession.

Mr. Ko is the principal of Messrs. Edward Ko & Company. Mr. Ko has also been serving as an independent non-executive director of Sinofert Holdings Limited since April 2000, EverChina Int'l Holdings Company Limited since April 2009 and Chia Tai Enterprises International Limited since September 2014, which are companies listed on the Stock Exchange.

Previously, Mr. Ko also served as an independent non-executive director of Sterling Group Holdings Limitedfrom September 2018 to November 2021. Mr. Ko obtained his external bachelor's degree in laws from the University of London in the United Kingdom in August 1986. He was admitted as a solicitor of Hong Kong in March 1991.

Mr. Wong, aged 44, has been serving as an independent non-executive director of Wenling Zhejiang Measuring and Cutting Tools Trading Centre Co. Ltd. since May 2022 and Jujiang Construction Group Co. Ltd. since August 2015, which are companies listed on the Stock Exchange.

Mr. Wong served as the chief financial officer and company secretary of Ruifeng Power Group Company Limited from May 2017 to June 2023. From February 2017 to June 2017, he served as an independent non-executive director of Green International Holdings Limited. From January 2013 to March 2017, he served as the Chairman of Jai Dam Distribution (Hong Kong) Co.

Ltd., and was responsible for the business development and management of the French Brand ``Jai Dam'' in the region of Greater China and managing the sub-distributors of Jai Dam Distribution (Hong Kong) Co. Ltd. in Beijing and Shanghai. From November 2011 to December 2012, he worked at PricewaterhouseCoopers Singapore branch, with his last position held as a manager of the individual tax business unit.

From November 2010 to September 2011, he worked at BASF East Asia Regional Headquarters Limited, with his last position held as a manager. From January 2008 to May 2010, he worked at the Shanghai office of Ernst & Young, with his last position held as manager in the tax human capital-PRC department. From July 2006 to January 2008, he worked at Ernst and Young, with his last position held as a senior accountant in the tax department.

From September 2001 to May 2004, he worked at KPMG, with his last position held as a tax consultant. Mr. Wong obtained his bachelor's degree in accountancy in November 2001 from the City University of Hong Kong. He obtained his bachelor's degree in laws from the University of London in the United Kingdom in August 2007.

He was also admitted as a member of the Association of Chartered Certified Accountants (ACCA) in October 2009.