The Board of EverChina Int'l Holdings Company Limited announces that with effect from 1 November 2023: (1) Mr. Lam Cheung Shing, Richard has resigned as an executive Director, and also ceased to be the Chief Executive Officer of the Company, a member of the Remuneration Committee and the Nomination Committees as well as the Authorised Representative of the Company; (2) Mr. Chen Yi, Ethan has been appointed as the Chief Executive Officer of the Company, a member of the Remuneration Committee and the Nomination Committee and the Authorized Representative of the Company; (3) Mr. Jiang Xiao Heng Jason has been appointed as an executive Director; and(4) Mr. Jiang Zhaobai has been re-designated from an executive Director to a non- executive Director but remain as the Chairman of the Board. Mr. Chen, aged 41, joined the Company as an independent non-executive Director of the Company in February 2012 and re-designated to an executive Director of the Company since October 2014. He holds a bachelor's degree in Applied Science on Professional Electric Engineering from University of British Columbia, Vancouver, Canada and Mr. Chen has profound knowledge in financial instruments and rich experience in the international capital market. Prior to this re-designation, Mr. Chen had been worked as the assistant vice president in investment of Wellbo Holdings Limited, an engineering analyst of Kobex Minerals Inc. and International Barytex Resources Ltd. in Canada, and an analyst and assistant vice president of Rongying Investments Limited respectively. Mr. Chen has entered into a service agreement with the Company and Mr. Chen had not been appointed for a specific term, but he is subject to retirement by rotation and re-election in accordance with the Articles. Pursuant to the current service agreement entered into between the Company and Mr. Chen, Mr. Chen is entitled to receive a monthly salary of HKD 200,000 with bonus payable at the discretion of the Board, and a fixed director's fee of HK$240,000 per annum, which has been approved by the Board with reference to his duties and responsibilities in the Company, his qualifications, experience and the prevailing market situation. In addition to his entitlement under the service contract, the Board has agreed to grant Mr. Chen a residential housing allowance of not exceeding HK$26,000 per month. The remuneration of Mr. Chen will be subject to annual review by the Remuneration Committee and the Board. As of the date of this announcement, Mr. Chen did not have any interests in Shares within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) ("SFO"). Mr. Chen confirms that save as disclosed, as of the date of this announcement, (i) Mr. Chen did not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company; (ii) he did not have ny interest in the Shares within the meaning of Part XV of the SFO; (iii) he did not hold any other directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iv) he did not hold other positions with other members of the Group. Mr. Jiang Xiao Heng Jason, aged 33, joined Group in October 2012 as the investment manager of the Company. He has extensive experience in investing in real estate and IT sectors. He studied in the bachelor of business administration program in Pepperdine University. He worked as investment manager in the strategic investment department of Shanghai Pengxin (Group) Co. Ltd. Jiang Xiao Heng Jason is the son of Mr. Jiang, an executive Director and the Chairman of the Board.
Jiang Xiao Heng Jason has entered into a service agreement with the Company and he had not been appointed for a specific term, but he is subject to retirement by rotation and re-election in accordance with the Articles. Pursuant to the service agreement entered into between the Company and Mr. Jiang Xiao Heng Jason, he is entitled to receive a monthly salary of HKD 50,000 with bonus payable at the discretion of the Board, and a fixed director's fee of HKD 240,000 per annum, which has been approved by the Board with reference to his duties and responsibilities in the Company, his qualifications, experience and the prevailing market situation. The remuneration of Mr. Jiang Xiao Heng Jason will be subject to annual review by the Remuneration Committee and the Board.