The board of directors of the Colour Life Services Group Co., Limited announced that Mr. Zhu Wuxiang has tendered his resignation as an independent non-executive director, the chairman of the remuneration committee and a member of each of the audit committee and nomination committee of the Company with effect from 25 September 2023 as he wishes to devote more time to his other work commitments. The Board also announced that Mr. Zhang Raymond Yue has been appointed as an independent non-executive director, the chairman of the remuneration committee, a member of each of the audit committee and nomination committee of the Company with effect from 25 September 2023. Mr. Zhang, aged 47, has over 15 years of experience in credit investment, private equity, investment banking and capital market.

He is the chief executive officer of Zhong Shan Financial Investment Limited. Mr. Zhang was the partner of VMS Investment Group from December 2015 to February 2017. During the period between January 2005 and November 2015, Mr. Zhang has served in various investment banks and his last position was the managing director of Deutsche Bank's Investment Banking in Asia-Pacific Region.

Currently, Mr. Zhang is the vice chairman of professional services committee of Belt & Road General Chamber of Commerce, executive council member of Center for China & Globalization, a member of the ASTRI Technology Review Panel, a mentor of Hong Kong Cyberport, a member of the Jiangsu Provincial Committee of the Chinese Political Consultative Conference and the chairman of Federation of Hong Kong Jiangsu Youth. Mr. Zhang obtained the bachelor's degree in commerce from The University of Sydney in October 2000 and master's degree in applied finance from Macquarie University in July 2005. He is currently studying in the CEO program at Cheung Kong Graduate School of Business.