Youth Champ Financial Group Holdings Limited announces the following changes with effect from 1 August 2022, Mr. Lam King, an independent non-executive Director, has been re-designated from an independent non-executive Director to a non-executive Director and ceased to be a member of each of the Audit Committee, Nomination Committee and Remuneration Committee; and Mr. Hung Hoi Ming Raymond has been appointed as an independent non-executive Director and a member of each of the Audit Committee, Nomination Committee and Remuneration Committee. Mr. Lam, aged 65, has been a Director since 1 April 2022. He was an independent non- executive Director before the Re-designation.

Mr. Lam graduated from Xiamen University in 1980. He came to Hong Kong in 1986 and had since served as department manager, deputy general manager and general manager of Fujian Enterprises (Holdings) Co. Ltd., director of Fujian Enterprises (Holdings) Co.

Ltd. and general manager of the Association Department. Mr. Lam had been engaging in business management and liaison between Hong Kong and the Mainland for more than 30 years. He has also served as a member of the Election Committee for the Hong Kong Special Administrative Region ("HKSAR") Legislative Council and Chief Executive, and a member of the Hong Kong National People's Congress Election Committee.

In 2015, he was awarded the Medal of Honor by the Government of the HKSAR. Mr. Lam was an independent non-executive director of China New Economy Fund Limited (Hong Kong stock code: 80) from 13 January 2022 to 17 July 2022. Mr. Hung, aged 41, has about 18 years of experience in corporate finance, listings, restructurings, mergers and acquisitions and investment.

He graduated from York University in Toronto, Canada with a bachelor degree in information technology in 2005. Mr. Hung also obtained a master degree in global finance from the Hong Kong University of Science and Technology and the New York University Stern School of Business in 2011. Mr. Hung worked at various private and listed companies.

He started off as an analyst at Joy Silver Limited (formerly known as Baron Capital Limited) in November 2005 and advised on a range of matters such as mergers and acquisitions. He served as the vice president of finance in Alpine Summit Energy Partners Inc. (formerly known as Red Pine Petroleum Ltd.) (stock code: ALPSU), whose shares have been listed on the TSX Venture Exchange since 2014, for the period from April 2013 to February 2016, during which he worked on matters such as restructurings. Mr. Hung joined China Success Finance Group Holdings Limited, a company listed on the Main Board of the Stock Exchange of Hong Kong Limited (stock code: 3623) as an executive director from September 2017 to September 2018.

Mr. Hung has been an executive director of First Seafront International Capital Limited since August 2019. He is responsible for a number of duties, including facilitating overseas mergers for PRC enterprises. Mr. Hung has been an independent non-executive director of Wai Chun Group Holdings Limited, a company listed on the Main Board of the Stock Exchange (stock code: 1013), since 16 June 2022.