The Board of Camsing International Holding Limited announce that Mr. Shen Yang, who is nominated by the Lender, has been appointed as an executive Director with immediate effect. Mr. Shen, aged 40, has over five years of experience in investment and operation management in the pan-cultural entertainment industry. Mr. Shen has been the president of Jiangsu Xinde Holdings Co. Ltd. since 2014, the supervisor of Shanghai Lianchen Investment Management Co. Ltd. since May 2016, and the president of Shanghai Xinde Hongye Enterprise Management Group Co. Ltd. since January 2017. From August 2016 to January 2017, Mr. Shen also served as the chairman of Shanghai Liyumen Supply Chain Management Co. Ltd. Mr. Shen has entered into a service agreement with the Company for a term of three years commencing from 16 October 2020 subject to retirement by rotation and re-election and other related provisions as stipulated in the articles of association of the Company (the ``Articles'') and the Listing Rules. Mr. Shen is entitled to a Director's fee of HKD 120,000 per annum, which was determined by the Board based on the recommendations of the remuneration committee of the Board with reference to his role, qualification, level of experience, the contribution to be made by him to the Company and the prevailing market conditions.