The board of directors of Fiscal Year Financial (Shenzhen) Co., Ltd. announced that Mr. Fung Che Wai Anthony ("Mr. Fung") has tendered his resignation as an independent non-executive Director due to his other work commitments, with effect from 25 August 2023. Upon the effective date of the Resignation, Mr. Fung will cease to be the chairman of the audit committee of the Company and a member of the nomination committee of the Company. The Board, with the recommendation of the Nomination Committee, resolved to appoint Mr. Tong Qiang ("Mr. Tong") as an independent non-executive Director with effect from 25 August 2023.

Mr. Tong, aged 63, has extensive experience in the fields of corporate law, property law and contract law in the People Republic of China (the "PRC"). Since August 1984, he successively served as teaching assistant, lecturer, master tutor and associate professor at Peking University Law School in the PRC, primarily responsible for the teaching and research on civil and commercial law of the PRC and he retired in July 2020. He currently served as an arbitrator at Shenzhen Arbitration Commission, Dalian Arbitration Commission and Qingdao Arbitration Commission.

Mr. Tong obtained a bachelor degree in law from Peking University in July 1984. Following the Appointment, the Board has resolved to appoint Mr. Tong as a member of the Nomination Committee and a member of the Audit Committee and Mr. Liu Shengwen, an independent non-executive Director and a member of Audit Committee, who possess the appropriate professional qualifications as required by Rule 5.05(2) of the GEM Listing Rules, is re-designated as the chairman of the Audit Committee.