Min Fu International Holding Limited announced the following changes: Mr. Ning Jie ("Mr. Ning") has resigned as an independent non-executive Director and ceased to be a member of each of the audit committee, remuneration committee and nomination committee of the Company due to his personal work arrangement with effect from 1 August 2023. Mr. Ning confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board would like to take this opportunity to express its sincere gratitude to Mr. Ning for his valuable contribution to the Company during his tenure.

Ms. Du Li ("Ms. Du") has been appointed as an independent non-executive Director and a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee with effect from 1 August 2023. Ms. Du, aged 45, has extensive experience in hotel management in the People's Republic of China. Since June 2017 till present, she has been serving as the general manager of Hongjiang Hotel located at Tianhe district of Guangzhou.

She obtained a diploma in secretarial studies (Chinese) at Guangdong Institute of Public Administration*in July 1999 and a diploma in international trade at Seneca College in June 2002. Ms. Du has entered into a letter of appointment with the Company pursuant to which she is appointed for an initial term of three years commencing on 1 August 2023. Ms. Du is entitled to terminate her appointment at any time by giving the Company 3-month notice in writing.

Her appointment is subject to normal retirement and re-election by the Shareholders at the annual general meeting of the Company. Ms. Du is entitled to a director's fee of HKD 30,000 per annum which was determined by the Remuneration Committee with reference to her duties and level of responsibilities, the remuneration policy of the Company and the prevailing market conditions. The Board further announces that following the appointment of Ms. Du and the resignation of Mr. Ning, the composition of board committees has been changed as follows with effect from 1 August 2023: (i) Mr. Ning has ceased to be a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee; and Ms. Du has been appointed as a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee.