Baofeng Modern International : APPOINTMENT OF CHIEF FINANCIAL OFFICER

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

BAOFENG MODERN INTERNATIONAL HOLDINGS COMPANY LIMITED ᘒࢤࣛ֠਷ყછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1121)

APPOINTMENT OF CHIEF FINANCIAL OFFICER

The board (the "Board") of directors (the "Directors") of Baofeng Modern International Holdings Company Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce that Mr. Kang Chuang ("Mr. Kang") has been appointed as chief financial officer of the Group with effect from 16 March 2021.

Mr. Kang, aged 36, has extensive investment banking and corporate finance experience particularly in solar and technology sector. Prior to joining the Group, he worked as Director of Corporate Finance at GS Power (Hong Kong) Company Limited, Vice President of Merger and Acquisition at Mizuho Securities Asia Limited and held managerial positions in other international financial institutions. Mr. Kang obtained a Master's Degree of Arts in International Business and Development Studies from Sophia University in Japan in September 2010 and a Bachelor's Degree of Commerce with a major in Finance from the University of Queensland in Australia in July 2007.

As part of the Company's endeavour to transition to a material science technology company, particularly focusing on mono-cast wafer and heterojunction technology, the Directors deem it important to appoint Mr. Kang to this role. Mr. Kang will support the management team's effort in executing Company's firmwide strategy, including developing current and prospective partnerships with other strategic entities, leading the firm's various corporate finance initiatives and evaluating business and investment opportunities. The Directors believe that with the unique experience gained from working at a leading solar heterojunction technology supplier and various international financial institutions previously, Mr. Kang offers both industry expertise and financial acumen, which is in line with the Company's current strategy of venturing into the solar market.

On behalf of the Board

Baofeng Modern International Holdings Company Limited

Leung Tsz Chung

Chairman

Hong Kong, 15 March 2021

As at the date of this announcement, the executive Directors are Mr. Leung Tsz Chung, Mr. Zheng Jingdong and Dr. Xu Zhi; the non-executive Director is Ms. Lin Weihuan; and the independent non-executive Directors are Ms. An Na, Mr. Chen Shaohua and Professor Zhao Jinbao.