The Board of Directors of CWT International Limited announced that based on the Company's needs and the focus of personal's job duty shifted to the operating entities of the Company (i.e. CWT Pte. Limited), Mr. Wu Jinfeng (‘Mr. Wu') has resigned as chief financial officer of the Company with effect from 29 July 2022. The Board further announced that Ms. Yan Shen has been appointed as Chief Financial Officer with effect from 29 July 2022.

Ms. Yan, aged 36, holds a bachelor's degree in accounting from Sichuan University and a master's degree in business administration from Peking University's Guanghua School of Management. She is also a member of the Association of Chartered Certified Accountants. Ms. Yan joined HNA Group Co Ltd. (‘HNA Group'), a substantial shareholder of the Company pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the ‘SFO'), in 2008 and has served several senior positions for its certain companies.

She joined the finance department of the Company in 2015 and is currently the general manager of that department. Ms. Yan also acts as directors of a number of subsidiaries of the Company. She is also currently a director of Avolon Holdings Limited.

Ms. Yan has extensive management knowledge and working experience in the fields of financial management and investment.