The Board of directors of the Company announced that Mr. Lin Rida has been appointed as new executive Director of the Company with effect from 4 November 2022. Mr. Lin, aged 50, is responsible for providing strategic advice on corporate governance and compliance matters and formulation of business strategies of the Company and its subsidiaries. Mr. Lin has years of experience in the fields of tax and business administration in the PRC.

He obtained a bachelor of law from the Central Party School of the Chinese Communist Party in December 2006. From July 2021 to August 2022, Mr. Lin was the general manager of Taizhou Dongsong Lvye Company Limited. From June 1997 to July 2021, Mr. Lin joined the Taizhou Jiaojiang Haimen Street Tax Collection Department with his last position as supervisor.

The Board further announces that with effect from 4 November 2022, Mr. Lin has been appointed as member of the remuneration committee and nomination committee of the Company and remuneration committee comprises two executive Directors, namely Mr. Yip Kwong Cheung, Mr. Lin, and two independent non-executive Directors, namely Ms. Cheng Shing Yan and Mr. Wong Yiu Kit Ernest, while nomination committee comprises two executive Directors, namely Mr. Yip Kwong Cheung and Mr. Lin, and two independent non-executive Directors, namely Ms. Cheng Shing Yan and Mr. Tang Sher Kin.