Good Fellow Healthcare Holdings Limited announced that Mr. Zheng Gang resigned from his position as an executive Director and a member of the remuneration committee with effect from 22 August 2023 as he would like to devote more time to his personal commitment. Mr. Zheng has confirmed that he has no disagreement with the Board and that there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. The Board announced that following the resignation of Mr. Zheng, Mr. Wu Qiyou appointed as an executive Director and a member of the Remuneration Committee with effect from 22 August 2023.

Mr. Wu, aged 30, possesses profound expertise in business management, strategic planning and risk management. Mr. Wu obtained a Bachelor of Business (Banking and Finance) from the Monash University in 2016 and a Master of Business Administration from the same university in 2022. From 2016 to 2020, Mr. Wu served as an investment manager at Cornerstone Capital Investment Group Pty Ltd, leading multiple commercial real estate projects involving retirement and medical assets,monitoring compliance and conducting risk control for those projects.

From 2021 to 2022, Mr. Wu was a member of the management team at Lunghealth Medtech Company Limited, spearheading the strategic rollout of the magnetic navigation bronchoscope system in the Chinese market, ensuring the safety of the product and overseeing the compliance with the relevant laws and regulations. In December 2022, Mr. Wu founded Dynamiq Advisory Pte Ltd. and has been the chief executive officer Dynamic Advisory thereafter, providing its clients with comprehensive corporate services, including but not limited to compliance and risk management services. Mr. Wu has entered into a service agreement with the Company for a term of three years renewable automatically upon expiry of the Term, unless terminated by a three (3)-month prior written notice by either party after the expiry of the Term.

Mr. Wu is subject to retirement by rotation and re- election at the first annual general meeting of the Company after his appointment pursuant to the articles of association of the Company and thereafter subject to retirement by rotation and re- election at annual general meeting of the Company at least once every three years according to the provisions of the Articles, the Rules Governing the Listing of Securities on GEM of the Stock Exchange and other applicable laws.Mr. Wu is entitled to a monthly director's fee of HKD 20,000 and a discretionary bonus for each financial year, which is payable at the Board's discretion and determined with reference to the Group's results and performance for the financial year concerned. The remuneration payable to Mr. Wu was determined by the Remuneration Committee having regard to his duties and responsibilities within the Group, the Group's remuneration policy and the prevailing market condition. The Board further announced that, following the resignation of Mr. Zheng, with effect from 22 August 2023, Mr. Wu has been appointed as a member of the Remuneration Committee.