The Board of Lai Fung Holdings Limited announced that Mr. Cheung Sum, Sam will be appointed an Executive Director with effect from 1 August 2023. Mr. Cheung, aged 59, joined the Company as Group Chief Financial Officer on 13 July 2023. He was the chief financial officer of FTLife Insurance Company Limited from September 2019 to November 2020, the chief financial officer and vice president of Agile Group Holdings Limited from July 2013 to May 2019, an executive director of eSun Holdings Limited ("eSun") from March 2011 to August 2012, and an executive director of each of Lai Sun Development Company Limited ("LSD") and the Company from March 2011 to August 2012 and from June 2007 to October 2009.

Mr. Cheung has not held any directorships in listed public companies in Hong Kong or overseas in the last three years. Prior to joining the Lai Sun Group in 2006, Mr. Cheung worked for a number of other listed companies and international investment banks in Hong Kong. He has extensive experience in capital markets and financial management.

Mr. Cheung graduated from the London School of Economics and Political Science, University of London with a Bachelor of Science (Economics) degree in Accounting and Finance. He is a fellow member of the Association of Chartered Certified Accountants in the United Kingdom and the Hong Kong Institute of Certified Public Accountants ("HKICPA"). Further, Mr. Cheung will be appointed an executive director of each of Lai Sun Garment (International) Limited ("LSG"), LSD and eSun with effect from 1 August 2023.

The Board announced that Mr. Au Hoi Fung will be appointed an INED with effect from 1 August 2023. Mr. Au, aged 67, has more than 42 years of accounting and financial management work experiences gained in various corporations in Hong Kong. Currently, he is the vice president (Finance and Administration) and a director of F.O.B. Garments Limited, a sizeable garments trading entity in Hong Kong which he has joined since January 1994.

He was an independent non-executive director of Media Asia Group Holdings Limited (delisted from GEM of the Stock Exchange on 21 March 2023) from 9 July 2020 to 20 April 2023. Mr. Au graduated from the Hong Kong Polytechnic (now known as the Hong Kong Polytechnic University) with a Higher Diploma in Accountancy. He is an associate of the Chartered Institute of Management Accountants and a fellow of the HKICPA.