Fuxing China Group Limited announced Mr. Hong Peng You is the Group's current Director of Administration. He 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 with effect from 1 September 2022. Mr. Ma Chor Lung 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 1 September 2022.

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. The Board of Directors of the Company having considered the rationale for the aforesaid re-designations and the experience and qualifications of Mr. Hong, concurs with the Audit Committee and Nominating Committee in respect of the re-designation of Mr. Hong and has approved the same. Experience Mr. Hong assumed the position of Financial Manager of the Group in 2004 and was subsequently appointed as Deputy General Manager in 2005 and took charge of all finance and administration matters.

He was appointed as an Executive Director of the Company in December 2006. Executive. Mr. Hong will oversee the finance, budget, internal control and administration matters of the Group.

Registered accountant with Jinjiang City Finance Bureau and a senior tax planner Certified Senior Accountant Certified Chief Accountant.