CSPC Pharmaceutical : APPOINTMENT AND RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTORS

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CSPC PharmaCeutiCal GrouP limited ͩᖹණྠϞࠢʮ̡

(Incorporated in Hong Kong with limited liability)

(Stock Code: 1093)

aPPoiNtmeNt aNd reSiGNatioN oF iNdePeNdeNt NoN-eXeCutiVe direCtorS

The Board of Directors (the "Board") of CSPC Pharmaceutical Group Limited (the "Company") hereby announces that with effect from 8 March 2021, (i) Mr. LAW Cheuk Kin Stephen ("mr. law") was appointed as an independent non-executive director of the Company and (ii) Dr. YU Jinming ("dr. Yu") resigned as an independent non-executive director of the Company due to the pursuit of his other work commitments.

Dr. Yu has confirmed that he does not have any disagreement with the Board and there is no other matters related to his resignation that need to be brought to the attention of the shareholders of the Company.

The biographical details of Mr. Law are set out below:

Mr. Law Cheuk Kin Stephen, aged 58, is currently the Managing Director of ANS Capital Limited. He is also an independent non-executive director of China Everbright Limited, Somerley Capital Holdings Limited, China Galaxy Securities Co., Ltd. and Bank of Guizhou Co., Ltd., all of which are listed on The Stock Exchange of Hong Kong Limited (the "Stock exchange"). Mr. Law previously served as the Finance Director and a member of the Executive Directorate of MTR Corporation Limited, Chief Financial Officer of Guoco Group Limited, Hong Kong and Managing Director of TPG Growth Capital (Asia) Limited, and held various senior positions in the Morningside Group and Wheelock Group. He was also previously a non-executive director of China NT Pharma Group Limited (listed on the Stock Exchange), an alternate director of MIE Holdings Corporation (listed on the Stock Exchange), an independent non-executive director of AAG Energy Holdings Limited (listed on the Stock Exchange) and Stealth BioTherapeutics Corp. (listed on Nasdaq). He is currently a member of the board of directors of SOW (Asia) Foundation and a council member of Hong Kong Business Accountants Association. He served as a council member of the Hong Kong Instituteof Certified Public Accountants from 2010 to 2017 and an adjunct professor of the Hong Kong Polytechnic University from 2015 to 2017. He is currently a member of the Hong Kong Institute of Certified Public Accountants and the Institute of Chartered Accountants in England and Wales. Besides, Mr. Law has been appointed by the Ministry of Finance of the People's Republic of China as an expert consultant to provide advice on finance and management accounting. Mr. Law holds a Bachelor's degree in Science (Civil Engineering) from the University of Birmingham, the United Kingdom and received a Master's degree in Business Administration from the University of Hull, the United Kingdom.

Mr. Law has entered into a service agreement with the Company for a period of three years commencing from 8 March 2021 and his appointment is subject to retirement and re-election at the general meeting in accordance with the articles of association of the Company. Mr. Law is entitled to receive an annual director's fee of HK$300,000. His director's fee is to be determined by the Board and to be authorised by the shareholders of the Company at the annual general meeting with reference to his performance and responsibilities, performance of the Group and prevailing market practices.

Mr. Law has not held any other positions with any members of the Group and does not have any relationships with any directors, senior management or substantial or controlling shareholders of the Company. Save as disclosed above, Mr. Law has not held any directorships in any listed public companies in the last three years. As at the date of this announcement, Mr. Law does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Future Ordinance.

Save as disclosed above, there is no other information to be disclosed pursuant to rule 13.51(2) of the Rules Governing the Listing of Securities of the Stock Exchange and there is no other matter which needs to be brought to the attention of the shareholders of the Company in connection with the appointment of Mr. Law.

The Board wishes to take this opportunity to give appreciation to Dr. Yu for his tremendous contribution to the Company during his tenure of office and welcome Mr. Law to join the Board.

By order of the board

CSPC Pharmaceutical Group limited

Cai dongchen

Chairman

Hong Kong, 5 March 2021

As at the date of this announcement, the Board comprises Mr. CAI Dongchen, Mr. ZHANG Cuilong, Mr. WANG Zhenguo, Mr. PAN Weidong, Mr. WANG Huaiyu, Dr. LI Chunlei, Dr. WANG Qingxi, Mr. CHAK Kin Man and Dr. JIANG Hao as executive directors; and Mr. WANG Bo, Dr. YU Jinming, Mr. CHEN Chuan, Prof. WANG Hongguang and Mr. AU Chun Kwok Alan as independent non-executive directors.