The board of directors of Dynasty Fine Wines Group Limited announced that Dr. Zhang Guowang has resigned as an independent non-executive director, the chairman of the Remuneration Committee and a member of the Audit Committee and the Nomination Committee of the Company with effect from 29 December 2023 due to retirement. Dr. Zhang Guowang has confirmed that he has no disagreement with the Board and there are no matters that need to be brought to the attention of holders of securities of the Company in relation to his resignation. The Board announced that with effect from 29 December 2023, Ms. Chung Wai Hang (?Ms. Chung?) is appointed as an independent non-executive director, the chairman of the Remuneration Committee and a member of the Audit Committee and the Nomination Committee of the Company.

Ms. Chung Wai Hang, aged 54, holds a bachelor's degree of Social Science from Lingnan University and a master's degree of Science in International Real Estate with distinction from Royal Agricultural University, the United Kingdom. Ms. Chung has about 30 years of experience in private enterprises and listed companies in Hong Kong, and has led one of the Hong Kong companies with manufacturing plants in mainland China to carry out business development and general management. She has professional knowledge in real estate development and corporate governance, and practical experience in domestic and overseas investment, asset and portfolio management and valuation in the past 10 years.

Ms. Chung is a member of Hong Kong General Chamber of Wine & Spirits and a life member of The Hong Kong Independent Non-Executive Director Association, and she is also an independent non-executive director of Solargiga Energy Holdings Limited, the shares of which are listed on the Main Board of the Stock Exchange.