Goldstream Investment Limited announced that Mr. Geng Tao ("Mr. Geng") has been appointed as an executive Director and the chief executive officer of the Company ("Chief Executive Officer"), both with effect from 13 September 2022. Mr. Geng, aged 40, is a managing director of Hony Capital Limited ("Hony Capital"). Mr. Geng has joined Hony Capital in April 2021 and joined the Group as an executive Director and the Chief Executive Officer with effect from 13 September 2022.

He is in charge of the corporate financing activities of Hony Capital. Mr. Geng holds a Master of Philosophy from University of Cambridge and a Bachelor Degree of Computer Science and Technology from Beihang University. Prior to joining Hony Capital, he had served at various financial institutions.

He has accumulated extensive practical experience in the financial industry. Mr. Geng has entered into a service agreement with the Company for an initial term of three years, commencing on 13 September 2022, and will continue thereafter for successive three-year terms, and such service agreement may be terminated by either party thereto giving to the other not less than one month's prior notice in writing. Mr. Geng is subject to retirement from office and re-election in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the articles of association of the Company.

Pursuant to the articles of association of the Company, Mr. Geng shall hold office only until the next general meeting of the Company and shall then be eligible for re-election. Mr. Geng will not receive any remuneration for serving as an executive Director and the Chief Executive Officer. Save as disclosed, as at the date of this announcement, Mr. Geng (i) does not hold any other positions in the Company or its subsidiaries; and (ii) does not have any relationship with any other Directors, senior management, substantial shareholders or controlling shareholders of the Company.

As at the date of this announcement, Mr. Geng (i) does not have any interest in the shares of the Company (within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)); and (ii) did not hold any directorship in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years. The Board hereby announces that Mr. Zhao John Huan ("Mr. Zhao") has tendered his resignation as the Chief Executive Officer with effect from 13 September 2022 due to his focus on his duties and responsibilities as an executive Director and the chairman of the Board (the "Chairman"). Mr. Zhao will remain as an executive Director and the Chairman.

Mr. Zhao has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board would like to extend its warmest welcome to Mr. Geng for joining as a member of the Board and would like to express its gratitude to Mr. Zhao for his valuable efforts and contributions to the Company during his tenure of office as the Chief Executive Officer. Upon the change of the Chief Executive Officer, the Company will comply with code provision C.2.1 of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules, which requires the roles of the chairman of the board and the chief executive officer of the Company to be separated and should not be performed by the same individual.