The Board of Power Financial Group Limited announced that with effect from 28 April 2022: Ms. Tsang Kai Yi resigned as the Company Secretary, an Exchange Authorised Representative and the CO Authorised Representative; and Mr. Cheng Chun Shing has been appointed as an executive Director, the Company Secretary, an Exchange Authorised Representative and the CO Authorised Representative, to fill the casual vacancy as a result of Ms. Tsang's resignation. Mr. Cheng Chun Shing aged 47, has been appointed as an executive Director, the Chief Financial Officer, the Company Secretary, an Exchange Authorised Representative and the CO Authorised Representative, all with effect from 28 April 2022. He joined the Group on 11 April 2022 as financial controller of the Group and is a director of certain subsidiaries of the Company.

Mr. Cheng has over 24 years of experience in accounting, auditing, corporate financial management and corporate governance. Prior to joining the Company, Mr. Cheng served as the company secretary, financial controller and chief financial officer of various listed companies on the Stock Exchange and worked in various international audit firms in Hong Kong. Mr. Cheng is currently an independent non-executive director of Genes Tech Group Holdings Company Limited, a company whose shares are listed on the GEM of the Stock Exchange and an independent non-executive director of China Oriented International Holdings Limited, a company whose shares are listed on the Stock Exchange.

Mr. Cheng served as the financial controller and company secretary of BeijingWest Industries International Limited, a company whose shares are listed on the Stock Exchange, during the respective period from October 2017 to April 2022 and from March 2018 to April 2022.