HK Electric Investments and HK Electric Investments : HKEI Appoints New Chief Executive Officer

Press Release

1 June 2023

HKEI Appoints New Chief Executive Officer

HK Electric Investments ("HKEI") announced today that Mr. Wan Chi-tin will retire as the Chief Executive Officer of HKEI as well as the Managing Director of HKEI's wholly-owned subsidiary, HK Electric, with effect from 1 July 2023. He will be succeeded in both capacities by Mr. Cheng Cho-ying Francis, currently an Executive Director and HK Electric's Operations Director from the same date.

At the same time, Mr. Kwan Ying-leung will be appointed as an Executive Director and HK Electric's Engineering Director to be responsible for the development and operation of power generation, transmission and distribution systems in the group. He is currently HK Electric's General Manager (Projects).

Following the appointments, Mr. Cheng and Mr. Kwan will become the Chairman and a member of HKEI's Sustainability Committee respectively.

Since joining the group in 1979, Mr. Cheng has risen through the ranks to become HK Electric's Operations Director in 2017. Over the years, he has been responsible for the business and operation of the group and has led various functions including power station operation, transmission and distribution system, system control and information infrastructure.

Describing Mr. Cheng as a person of integrity and conviction, and with all- round knowledge of the group's business, the Chairman of HKEI, Mr. Canning Fok said, "Under Mr. Cheng's leadership, I am confident that the group will continue to drive innovation and achieve sustainable growth while maintaining world-class electricity service to our customers."

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As HK Electric's Engineering Director, Mr. Kwan will be responsible for all the engineering activities of the group. "With his breath of experience, I am sure Mr. Kwan will contribute to the operational performance of the group and facilitate the transition to zero-carbon energy in the coming years," Mr. Fok said, adding that he is confident the group will benefit from the experience and expertise of both Mr. Cheng and Mr. Kwan in their respective new roles to achieve continued success.

Mr. Fok extended sincere thanks to Mr. Wan for his long and dedicated service to HKEI and its parent group Power Assets over the past 45 years, highlighting his contributions to a fascinating period of growth and development of the groups' businesses in Hong Kong and overseas.

Photo Captions:

Mr. Cheng will take up the posts of HKEI Chief Executive Officer and HK Electric Managing Director on 1 July 2023.

Mr. Kwan will become an HKEI Executive Director and HK Electric Engineering Director on 1 July 2023.

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