KFM Kingdom Holdings Limited announced that As disclosed in the Composite Document, Mr. Zhang Haifeng (``Mr. Zhang'') will resign as a non-executive Director with effect from a date which is no earlier than such date as permitted under the Takeovers Code (i.e. after the close of Offer) as he was a Director appointed as a representative of Massive Force. As such, Mr. Zhang has resigned as a non-executive Director, the Chairman of the Board, the chairman of the nomination committee of the Board (the ``Nomination Committee'') and a member of the remuneration committee of the Board (the ``Remuneration Committee''), all with effect from immediately after the publication of this joint announcement on 1 March 2024. Following resignation of Mr. Zhang, the Board announces that with effect from immediately after the publication of this joint announcement on 1 March 2024: (a) Mr. Peter Sun, an executive Director, has been appointed as the Chairman of the Board and the chairman of the Nomination Committee; and (b) Mr. Shen Zheqing, an independent non-executive Director, has been appointed as a member of the Remuneration Committee.