Kinergy Corporation Ltd. announced that Mr. Wang Yizhe has resigned as a non-executive director of the Company due to his other business commitments; and Mr. Fan Zhirong has been appointed as a non-executive director of the Company. Mr. Fan, aged 44, has more than 15 years of experience in investment and financing and corporate management in private debt and equity fund industries. He obtained a Bachelor's degree in Engineering from Shanghai Jiao Tong University in July 2001 and a Master's degree in Business Administration (MBA) from Yale University in May 2008.

Mr. Fan is currently a director of Diamond Wealth Global Limited, which is a controlling shareholder of the Company and an indirect wholly-owned subsidiary of China Everbright Limited, which is also a controlling shareholder of the Company, since July 2023. Further, Mr. Fan has served as a director of Hillstone Networks Co. Ltd. since May 2023, a company listed on the Shanghai stock exchange.

Mr. Fan is also an asset allocation and investment management department director engaged by CEL Management Services Limited, a subsidiary of CEL, since March 2020. From September 2019 to February 2020, Mr. Fan was an executive director of China Ping An Insurance Overseas (Holdings) Limited, and was responsible for the primary market structured finance and credit investments. From January 2015 to August 2019, Mr. Fan served as a director of both capital investment and financing department and investment and management department at CEL.

From September 2012 to December 2014, Mr. Fan was an investment director in J. Rothschild Creat Partners Limited and Creat Fund Management Co. Ltd., and was responsible for the evaluation and execution of investment transactions. Prior to that, Mr. Fan had also participated in a number of potential equity investment transactions and advised various portfolio companies on financing and bond offering.