The board of directors of Grace Life-tech Holdings Limited announced that Dr. Li Zhongquan ("Dr. Li") has resigned, with effect from the date of this announcement, as an independent non-executive Director, a member of the audit committee of the Company (the "Audit Committee"), a member of the nomination committee of the Company (the "Nomination Committee") and a member of the remuneration committee of the Company (the "Remuneration Committee") due to his personal work arrangements. Dr. Li has confirmed that he has no disagreement with the Board and that there is no matter in respect of his resignations which needs to be brought to the attention of the shareholders of the Company (the "Shareholders") and The Stock Exchange of Hong Kong Limited. The Board announcedthat Mr. Dong Jie ("Mr. Dong") has been appointed as an independent non-executive Director with effect from the date of this announcement.

Mr. Dong Jie, aged 68, was appointed as independent non-executive Director of the Company on the date of this announcement. Mr. Dong was a former executive Director of the Company between 12 April 2013 and 12 September 2016. Mr. Dong has not provided any professional service to the Group within 2 years prior to his current appointment as an independent non-executive Director of the Company, and the Board is of the view that Mr. Dong satisfied the independence requirement under the Listing Rules.

During his previous term as a director of the Company, Mr. Dong is mainly responsible for the Group's processing technology study and provides technical advice. Mr. Dong has approximately 40 years of experience in the mining industry. He joined Group as a chief engineer in March 2008 and since then had taken part in a number of field trips to Malaysia in search for suitable mining projects.

Mr. Dong was a technical adviser of the Group in respect of raw ore analysis and perfection of iron ore beneficiating technology. Since September 2016, Mr. Dong was the research group chief of Chengdu Mining Composite Utilization Research Institute, Mr. Dong served as a mining investment technical advisor for Chengdu Hande between September 2005 and August 2007, mainly responsible for certification of jade pieces and provision of technical advice and assessment of mining projects. Between January 1997 and August 2005, Mr. Dong worked at Sichuan Guandi Mine as chief engineer, and was mainly responsible for the mining of an iron ore mine located in Huili County of Sichuan Province.

As a key technical adviser and engineer of the said iron ore project, he was responsible for the analysis of processing technology, technical advisory, management, and on-site mining operations. Mr. Dong also directed the crushing, drying and ball mill pulverizing operations of iron ore. During his term of office, the said mine achieved an average annual production of 1 Mt of iron ore.

And before that, Mr. Dong was a teaching staff at Chengdu Geology College focusing on the minerals study and analysis. Mr. Dong graduated from Chengdu University of Technology in the PRC (formerly known as Chengdu Geology College, with a major degree in rock and mineral analysis in 1982. CHANGE IN COMPOSITION OF BOARD COMMITTEES: The Board announces that Mr. Dong has been appointed as a member of the Audit Committee, a member of the Nomination Committee and a member of the Remuneration Committee with effect from the date of this announcement.