The board of directors announced that Dr. Cai Rongxin ("Dr. Cai") has resigned as the independent non-executive Director and ceased to be the member of each audit committee of the Company ("Audit Committee") and remuneration committee of the Company ("Remuneration Committee") due to his other personal career development plans with effect from 1 July 2022. The Board announced that Mr. Zheng Xiaorong ("Mr. Zheng") has been appointed as an independent non-executive Director and a member of each Audit Committee and Remuneration Committee with effect from 1 July 2022. Mr. Zheng, aged 38, holds a bachelor degree of commerce from the University of Auckland in 2011.

Mr. Zheng has over 17 years of extensive experiences working in financial services and banking industry in New Zealand and Hong Kong with deep understanding of local and global financial markets and regulatory requirements. Mr. Zheng has been working in KVB Kunlun Group ("KVB") since 2011 and he has significant and proven experiences in foreign exchange markets, dealing exposure management and hedging strategy. Mr. Zheng is currently serving as a Director, Global Markets at Bank of China (New Zealand) Limited since 4 October 2021, who is responsible for the developing and marketing of transactional banking businesses with all those related banking products shall be in full compliance with relevant rules, regulations and the internal policies of Bank of China Group as well as enhancing internal workflow processing in accordance with local market practices that would eventually promote quality services to clients.

Mr. Zheng has also been the non-executive director of KVB group companies situated in New Zealand and Hong Kong, respectively, since 1 January 2022.