Fu Shou Yuan International : CHANGE OF NON-EXECUTIVE DIRECTOR

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Fu Shou Yuan International Group Limited ၅ྪ෤਷ყණྠϞࠢʮ̡

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1448)

CHANGE OF NON-EXECUTIVE DIRECTOR

The Board announces that with effect from March 24, 2021 :

• (a) Mr. Ma Xiang has resigned as a non-executive Director; and

• (b) Ms. Zhou Lijie has been appointed by the Board as a non-executive Director.

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the ''Board'') of directors (the ''Directors'') of Fu Shou Yuan International Group Limited (the ''Company'', together with its subsidiaries, the ''Group'') hereby announces that Mr. Ma Xiang (''Mr. Ma'') has resigned as a non-executive Director with effect from March 24, 2021 due to other work arrangements.

Mr. Ma has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'').

The Board would like to take this opportunity to express its most sincere and deepest gratitude to Mr. Ma for his valuable contributions to the Company during his tenure of office.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board further announces that Ms. Zhou Lijie (周立杰) (''Ms. Zhou'') has been appointed by the Board as a non-executive Director with effect from March 24, 2021.

Ms. Zhou, aged 46, has over 20 years of work experience in the investment industry. Ms. Zhou is currently the investment director of Sunshine Asset Management Co., Ltd. (陽光 資產管理股份有限公司). From 2001 to 2009, Ms. Zhou served as research supervisor of Beijing HaiWen Consultants Co., Ltd. (北京海問諮詢有限公司). From 2009 to 2020, Ms.

Zhou successively served as deputy director of the Asset Management Center of Sunshine

Insurance Group Co., Ltd. (陽光保險集團股份有限公司), and senior research manager, assistant to general manager, deputy general manager and general manager of the research department of Sunshine Asset Management Co., Ltd..

Ms. Zhou obtained a bachelor's degree in investment economics from Renmin University of China (中國人民大學) in 1998 and a master's degree in financial management from Tianjin University of Commerce (天津商學院) in 2001.

Ms. Zhou has entered into a service contract with the Company for a term of three years commencing on March 24, 2021, subject to (i) retirement from office and re-election at the next general meeting of the Company and (ii) retirement by rotation and re-election at least once every three years at the annual general meetings of the Company pursuant to the articles of association of the Company. Such service contract may be terminated by not less than one month's notice in writing served by either party on the other. Pursuant to the service contract, Ms. Zhou is entitled to a remuneration of RMB240,000 per year.

The emolument of Ms. Zhou has been recommended by the remuneration committee of the Company and determined by the Board with reference to her qualification, experience, duties, and responsibilities.

Save as disclosed above, to the best knowledge of the Board, Ms. Zhou (i) has not held any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas during the last three years immediately preceding the date of this announcement, (ii) is not connected and does not have any relationship with any director, senior management or substantial or controlling shareholder of the Company or any of their respective associates, as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong

Limited, (iii) does not hold any position in the Company or other members of the Company and its subsidiaries, and (iv) is not interested in and does not hold any short position in any shares or underlying shares or any debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571) of the Law of Hong Kong.

Save as disclosed above, the Board is not aware of any other matters in relation to the appointment of Ms. Zhou as a non-executive Director that need to be brought to the attention of the shareholders of the Company, nor is there any other information that should be disclosed by the Company pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange.

The Board would like to express its warmest welcome to Ms. Zhou to the Board.

By order of the Board

Fu Shou Yuan International Group Limited

Bai Xiaojiang

Chairman and Executive Director

Hong Kong, March 24, 2021

As at the date of this announcement, the executive Directors are Mr. Bai Xiaojiang, Mr. Tan Leon Li-an and Mr. Wang Jisheng; the non-executive Directors are Mr. Lu Hesheng, Mr. Huang James Chih-cheng and Ms. Zhou Lijie; and the independent non-executive Directors are Mr. Chen Qunlin, Mr. Luo Zhuping, Mr. Ho Man, Ms. Liang Yanjun and Mr. Chen Xin.