The board of directors of Flying Financial Service Holdings Limited announced that, Ms. Liu Yi () (Ms. Liu) has been appointed as an executive director with effect from 23 May 2022. Ms. Liu, aged 38, was appointed as an executive Director with effect from 23 May 2022. Prior to the Appointment, Ms. Liu served various micro-credit and money lending companies in the People's Republic of China (the ``PRC'') and is well experienced in the money lending business sector.

Ms. Liu graduated from Huazhong University of Science and Technology () in June 2007 with a bachelor degree in financial management. The board announced that Mr. Zhang Gongjun (Mr. Zhang) has tendered his resignation as the compliance officer (the ``Compliance Officer'') of the Company under Rule 5.19 of the GEM Listing Rules with effect from 23 May 2022 due to work reallocation among the Directors. Mr. Leung Man Kit (Mr. Leung), an executive Director will be appointed as the Compliance Officer to replace Mr. Zhang with effect from 23 May 2022.

Mr. Zhang is both the chairman of the Board and the chief executive officer of the company. The Board is of the view that after the change of the Compliance Officer, Mr. Zhang should be able to devote more time to the business of the Company in particular, those in the PRC. Mr. Leung is ordinarily stationed in Hong Kong, enabling him to more directly and effectively handle the compliance matters of the Company.

The Board is of the view that such arrangements are in the best interest of the Company and the Shareholders.