The board of directors of Da Yu Financial Holdings Limited announces that with effect from 26 August 2022, an executive committee (the "ExCo") has been established with the powers and discretion to decide, approve or resolve otherwise on any expenditure, investments or capital commitment of the Company not exceeding an amount to be agreed by the Board from time to time in aggregate for each item (excluding staff salaries, office rental and profits tax) in any financial year. Mr. Lee Wa Lun, Warren, an executive director and managing director of the Company, has been appointed as the chairman of the ExCo, while Mr. Lam Chi Shing and Ms. Li Ming, the executive directors of the Company, have been appointed as the members of the ExCo, all with effect from 26 August 2022.