The board of directors of Jianzhong Construction Development Limited announced that Ms. Wang Huaping, Mr. Fu Binjie and Mr. Fan Wei were appointed as an independent non-executive director with effect from 16 January 2024. The Board is also pleased to announce that (i) Ms. Wang was appointed as the chairlady and Mr. Fu and Mr. Fan were appointed as members of the Audit Committee; (ii) Mr. Fan was appointed as the chairman and Mr. Fu was appointed as a member of the Remuneration Committee; and (iii) Mr. Fu was appointed as the chairman and Mr. Fan was appointed as a member of the Nomination Committee. Ms. Wang, aged 56, was appointed as an independent non-executive director with effect from 16 January 2024 and is responsible for providing independent judgement on the Group's strategy, performance, resources and standard of conduct.

Ms. Wang has over 30 years of experience in accounting, auditing, asset appraisal and costing of construction project. From 1988 to 1997, she held accounting positions at Fujian Erjian Construction Group Co. Ltd. She then worked as an auditor in Fujian Jianyou CPA Company Limited from 1998 to 2004, the general manager of Fujian Jianyou Asset Appraisal Real Estate Appraisal Company Limited from 2005 to 2008 and Beijing Jianyou Engineering Cost Consulting Company Limited from 2009 to June 2022.

Since July 2022, she has served as a certified public accountant at Fujian Huarui CPA Company Limited. Ms. Wang graduated from Fujian Construction Engineering College (now known as Fujian University of Technology) in the PRC in 1988. Ms. Wang is a certified public accountant registered under the Chinese Institute of Certified Public Accountants, a certified public valuer registered under the China Appraisal Society, a certified cost engineer registered under the Ministry of Construction of the PRC and the Ministry of Human Resources and Social Security of the PRC, a real estate appraiser registered under the Fujian Provincial Department of Housing and Urban-Rural Development with the China Tendering & Bidding Association in the PRC.

Mr. Fu, aged 54, was appointed as an independent non-executive director with effect from 16 January 2024 and is responsible for providing independent judgement on the Group's strategy, performance, resources and standard of conduct. Mr. Fu has over 30 years of experience in areas of construction and property development. From 1990 to 2001, he served as the deputy manager of the engineering management department at Ningbo Development and Investment Group Limited and concurrently as the deputy general manager of its subsidiary, Ningbo International Investment Consulting Company Limited.

From 2001 to 2015, he held several positions, including deputy engineer, deputy general manager, general manager, and director at subsidiaries of several companies listed on the Shanghai and Shenzhen Stock Exchanges, namely Ningbo United Group Co. Ltd., China Vanke Co. Ltd., and Youngor Group Co.

Ltd. Since 2015, he has served as the directors of certain property development companies in Melbourne, Australia, namely IFang Pty Ltd, RYJ Developments Pty Ltd. and CJY Developments Pty Ltd. and been involved in several property development projects, including 119 Winfield Road, Balwyn North;22 Surrey Road, Mount Waverly; 30 Station Street, Burwood; 12­14 Linden Street, Box Hill South; 14 Parkside Avenue, Box Hill; 24­26 Darbyshrie Road, Mount Waverly; and 9 Armstrong Street, Mount Waverly. Mr. Fu received his bachelor's degree from Nanjing Construction Engineering College, which is currently known as Nanjing Tech University. He is a senior engineer registered under the Zhejiang Provincial Human Resources and Social Security Department, a certified supervision engineer and a registered class 1 qualification certificate cost engineer registered under the Ministry of Housing and Urban-Rural Development in the PRC.

Mr. Fan, aged 42, was appointed as an independent non-executive director with effect from 16 January 2024 and is responsible for providing independent judgement on the Group's strategy, performance, resources and standard of conduct. Mr. Fan has over 20 years of experience in manufacturing, management and sales of optical communication solutions. He is one of the co-founders and serves as the general manager of Sichuan Huatuo Optical Communication Co.

Ltd. since 2010. Mr. Fan received his master degree of business administration from the University of Wales, United Kingdom. During his tenure at Sichuan Huatuo, Mr. Fan was recognised as one of the ``4+3'' high-end growth industry leaders in Mianyang City in 2014, one of the top ten innovation and entrepreneurship pioneers in Mianyang City in 2015.

In 2021, he was appointed as an off-campus cooperation mentor for master's degree students at Southwest University of Science and Technology. In 2022, he was honored as an outstanding entrepreneur in Mianyang City and Fucheng District. The Company has entered into a letter of appointment with each of Ms. Wang, Mr. Fu and Mr. Fan for an initial period of three years commencing from 16 January 2024 and shall thereafter continue on a month to month basis, provided that either party may terminate this Agreement at any time by giving not less than three months' prior notice in writing.

Ms. Wang, Mr. Fu and Mr. Fan will hold office until the forthcoming general meeting of the Company and be eligible for re-election. Thereafter, Ms. Wang, Mr. Fu and Mr. Fan shall retire and shall be eligible for re-election at least once every three years in accordance with the Listing Rules and the amended and restated memorandum and articles of association of the Company. Pursuant to the terms of the respective letter of appointment, each of Ms. Wang, Mr. Fu and Mr. Fan will be entitled to an annual remuneration of RMB 100,000 which is determined by the Board by reference to their experience, duties and responsibilities with the Company, the Company's remuneration policy as well as prevailing market rates and will be subject to review by the Remuneration Committee of the Company from time to time.