Honbridge Holdings Limited announced Mr. Dai Qing ("Mr. Dai") was appointed as an Executive Director of the Company with effect from 28 March 2024. Mr. Dai Qing, aged 40, has over 20 years of experience in the automotive industry and related businesses. He joined Zhejiang Geely Holding Group Company Limited in 2000 and currently serves as a Senior Vice President and Chief Operating Officer of Geely Holding Group. Geely Holding Group is the ultimate holding company of Geely Automobile Holdings Limited, the shares of which are listed on the Stock Exchange with stock code: 175, where Mr. Dai has served as a member of its senior management. Mr. Dai has served as finance head of subsidiary, director of group financial management department, general manager of group financial management center, deputy chief financial officer of group and the senior director of the group operation management of Geely Holding Group and Senior Vice President and Chief Financial Officer of Geely Automobile Group Company Limited. Since 2022, Mr. Dai has been a non-independent director of Lifan Technology (Group) Co. Ltd. Mr. Dai graduated from Huaibei Finance School of Anhui Province in 2000 and graduated from the China Central Radio and Television University in 2007 with a Bachelor's Degree in Accounting. Mr. Dai graduated from The Chinese University of Hong Kong in 2022 with a Degree of Master of Professional Accountancy. He is also a senior economist. Mr. Dai had entered into a service agreement with the Company in relation to his appointment as an Executive Director of the Company for a term of three years commencing from 28 March 2024 and may be terminated by either any party with three-month prior written notice. He will hold office until the next annual general meeting of the Company and will be subject to retirement by rotation in accordance with the articles of association of the Company. According to the service agreement, Mr. Dai is not entitled to any fixed monthly salary or director's fee. However, the Board, on the recommendation of the remuneration committee of the Company, may determine the remuneration and director's fee entitlement of Mr. Dai from
time to time with reference to his experience and responsibilities with the Company and the prevailing market condition. Mr. Liu Jian ("Mr. Liu") has resigned from his positions as an Executive Director, the vice chairman of the Board ("Vice Chairman") and Joint Chief Executive Officer pursuant to the GEM Listing Rules with effect from 28 March 2024, due to his own decision to devote more time to his other business commitments.