Hong Wei (Asia) Holdings Company Limited announced that Dr. Xu Jianmin ("Dr. Xu") has tendered his resignation as independent non-executive Director with effect from 6 October 2023 so as to allow him to devote more time for his personal commitments. Dr. Xu has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The board announced that Mr. Cheung Wai Yin Wilson ("Mr. Cheung") and Mr. Guo Ensheng ("Mr. Guo") have both been appointed as an independent non-executive Director with effect from 6 October 2023.

Mr. Cheung, aged 52, has over 27 years of experience in the field of audit, business development, corporate finance and financial management. He is currently an independent non-executive director of Truly International Holdings Limited. He was an executive director from August 2012 to March 2023 and the chairman and chief executive officer from August 2012 to August 2020 of Noiz Group Limited.

Mr. Cheung is a member of The Institute of Chartered Accountants in England and Wales, Hong Kong Institute of Certified Public Accounts and Hong Kong Securities and Investment Institute. He holds a Master of Science degree in Financial Engineering from City University of Hong Kong and Bachelor degrees in Arts and Administrative Studies from York University, Canada. Mr. Guo, aged 47, holds a master's degree of marketing management and a bachelor's degree of philosophy from Xiamen University.

He has over 17 years of experience in the field of operation and corporate management and has worked as a contracted lecturer in numerous corporate management and consulting companies in the People's Republic of China. He worked as the marketing manager and an assistant to the chief executive officer in Vedan International (Holdings) Limited and an assistant to the chairman of the board of Fuxing China Group Limited. The Board further announces that following the cessation of Dr. Xu's appointment as an independent non-executive Director, and the appointment of each of Mr. Cheung and Mr. Guo as an independent non-executive Director, the composition of the board committees has been changed as follows with effect from 6 October 2023: Dr. Xu has ceased to be the chairman of the remuneration committee and a member of each of the audit committee and nomination committee; Mr. Cheung has been appointed as the chairman of the audit committee and a member of each of the remuneration committee and the nomination committee; and Mr. Guo has been appointed as the chairman of the remuneration committee and a member of each of audit committee and the nomination committee.