DeTai New Energy Group Limited announced that Mr. Cheng Chi Kin has resigned as an executive Director and the chairman of the Board, the chairman of the investment committee of the Company and the member of the nomination committee of the Company with effect from 1 March 2024 due to his other business commitments. Mr. Cheng has confirmed that he had no disagreement with the Board and there was no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. Following the resignation of Mr. Cheng, Wong Siu Keung Joe, an executive Director, has been appointed as the Chairman and the chairman of the Investment Committee with effect from 1 March 2024.

The Board would like to express its sincere gratitude to Mr. Cheng for his invaluable contribution to the Company during his tenure of office. Ms. Chu Yin Yin Georgiana has been appointed as a non-executive Director with effect from 1 March 2024. Ms. Chu, aged 53, currently is an executive Director, Company Secretary and Financial Controller as well as a member of Investment Committee of the China Water Industry Group Limited which is listed on the Main Board of the Stock Exchange.

Ms. Chu holds a Bachelor's Degree of Accounting and a Master's Degree of Corporate Governance. She is a fellow member of the Hong Kong Institute of Certified Public Accountants, the Association of the Chartered Certified Accountants and the Institute of Chartered Accountants in England and Wales. Ms. Chu is a fellow member of both of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute.

Ms. Chu has over 20 years' extensive experience by working in an international audit firm and other listed companies. Ms. Chu is appointed by way of a letter of appointment with no fixed terms but will be subject to retirement by rotation and re-election pursuant to the bye-laws of the Company. She will hold office until the next general meeting of the Company at which she will be eligible for re-election in accordance with the articles of association of the Company.

Ms. Chu is entitled to receive a director's fee of HKD 180,000 per annum, which is determined by the Board on the recommendation of the Remuneration Committee with reference to her qualifications, experience, duties and responsibilities with the Company, as well as the prevailing market conditions, and will be reviewed annually. Mr. Cheng has ceased to act as an authorised representative of the Company (``Authorised Representative'') under Rule 3.05 of the Listing Rules, and an authorised representative of the Company to accept service of process or notices in Hong Kong on behalf of the Company as required under Rule 19.05(2) of the Listing Rules and Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (``Process Agent''); and Ms. Chu has been appointed as an Authorised Representative, a Process Agent; and a member of the Investment Committee of the Company.