Fuxing China Group Limited announced that Mr. Ma Chor Lung ("Mr. Ma") would relinquish his existing position as Chief Financial Officer of the Company and would be re-designated as Assistant to the Director of Finance and Administration with effect from 15 September 2022. Following the re-designation, Mr. Ma will no longer be an executive officer of the Company. Mr. Hong Peng You, the Group's current Director of Administration, will be re-designated as the Director of Finance and Administration and will oversee the finance, budget and internal control matters of the Fuxing group of Companies (the "Group") with effect from 1 September 2022.

An announcement in this regard will be released by the Company separately. The aforesaid re-designations are proposed to be undertaken pursuant to an internal review of the senior management structure of the Group to facilitate preparations for the proposed secondary listing on the NASDAQ Stock Market.