The board of directors of Hua Medicine announced that Mr. Yiu Leung Andy CHEUNG has been appointed as an independent non-executive Director with effect from January 1, 2023. The biographical details of Mr. Cheung are set out below: Mr. Cheung, aged 63, has been appointed as an independent non-executive Director with such appointment to take effect from January 1, 2023. He is primarily responsible for supervising and providing independent view to the Board.

Mr. Cheung will also serve as the chairman of the audit committee of the Board with effect from January 1, 2023, replacing Mr. Walter Teh-Ming KWAUK following his unfortunate passing away in November 2022. Mr. Cheung has over 30 years of professional accounting and auditing experience. He has been serving as an independent non-executive director and the chairman of the audit committee of JW (Cayman) Therapeutics Co.

Ltd, a company listed on The Stock Exchange of Hong Kong Limited, since October 2020. He has also been serving as an independent director and the chairman of the audit committee of Adagene Inc., a company listed on NASDAQ Stock Exchange in the United States, since February 2021. From July 2018 to June 2020, Mr. Cheung was the deputy area managing partner of Ernst & Young in Asia Pacific, overseeing its business operations, finance, information technology and risk management functions.

He was a member of EY Asia Pacific's Area Operating Executives, EY's Global Accounts Committee and EY's Global Markets and Investment Committee during that period. From July 2013 to June 2018, Mr. Cheung was the assurance managing partner for EY in Greater China, managing its audit, financial accounting advisory, forensic and climate change and sustainability services in the Mainland China, Hong Kong and Taiwan. He was a member of EY Greater China's Leadership Team during that period.

From July 2011 to June 2013, Mr. Cheung was the chief operating officer of EY Hua Ming LLP. From July 2010 to June 2011, Mr. Cheung was an assurance partner of EY China. From July 2009 to June 2010, Mr. Cheung worked as the area chief financial officer of EY Asia Pacific and led the effort to set up EY's China Overseas Investment Network in 2007.

Prior to joining EY as assurance partner in 2006, Mr. Cheung was an assurance partner with PricewaterhouseCoopers China and Arthur Andersen China. Mr. Cheung received his bachelor's degree in accounting and finance from the University of Lancaster in the United Kingdom in June 1982. He obtained a master's degree in accounting and finance from London School of Economics in the United Kingdom in August 1983.

He has been a member of Hong Kong Institute of Certified Public Accountants since October 1986 and served as a member of its disciplinary panel from January 2015 to December 2020. CHANGE IN COMPOSITION OF AUDIT COMMITTEE AND REMUNERATION COMMITTEE: The Board hereby announced that the following change in composition of the Board committees: following the appointment of Mr. Cheung as an independent non-executive Director, he has also been appointed as a chairman of the Audit Committee with effect from January 1, 2023; and Mr. Yiu Wa Alec TSUI, an independent non-executive Director, has been appointed as a member of the Remuneration Committee with effect from January 1, 2023.