The board of directors of Hephaestus Holdings Limited announces that, with effect from 4 March 2022, Mr. Chan Norman Enrique (Mr. Chan) has resigned as the chief executive officer under Rule 5.24 of the Rules Governing the Listing of Securities (the GEM Listing Rules) on the Growth Enterprise Market (GEM') of The Stock Exchange of Hong Kong Limited (Stock Exchange') due to other commitments which require more of his dedications. Mr. Huang Liang has been appointed as the chief executive officer of the Company. Mr. Huang Liang has over 15 years of experience in real estate development and properties investment areas in the People's Republic of China.

He is the executive director and general manager of Shenzhen Jinrong Enterprise Limited and Shenzhen Longhua Henghe Real Estate Development Limited. Mr. Huang is also the vice president of the Chamber of Commerce of Shenzhen Longhua. He was an independent non-executive director of Aidigong Maternal & Child Health Limited from February 2013 to December 2015.