Morris Home Holdings Limited announced that following the Share Subscription Completion, Mr. Zou Gebing has resigned as the chairman of the Board with effect immediately after the posting of the Composite Document on 17 October 2022. As at the date of this joint announcement, Mr. Zou Gebing remains to be an executive Director and will remain as a Director at least until the close of the Offers. Mr. Zou Gebing confirmed that he had no disagreement with the Board and there were no matters relating to his resignation as chairman of the Board and chief executive officer of the Company that need to be brought to the attention of the Shareholders.

The Board announced that (i) Mr. Tse Kam Pang and Mr. Chong Tsz Ngai have been appointed as executive Directors; (ii) Mr. Tse Hok Kan has been appointed as a non-executive Director; and (iii) Dr. Kwan Pun Fong Vincent and Ms. Chen Jianhua have been appointed as independent non-executive Directors with effect immediately after the posting of the Composite Document on 17 October 2022. In addition, Mr. Tse Kam Pang has been appointed as the chairman of the Board. Dr. Kwan Pun Fong Vincent and Ms. Chen Jianhua have also been appointed as members of each of the audit committee, remuneration committee and nomination committee of the Company with effect immediately after the posting of the Composite Document on 17 October 2022.

Mr. Tse Kam Pang, aged 67, is a founder, the chairman of the board of directors and an executive director of Royale Home, a company the shares of which are listed on the Main Board of the Stock Exchange. He is also a controlling shareholder of Royale Home who is deemed to be interested in approximately 74.86% of the issued share capital of Royale Home. He held the position of Deputy Managing Director at Ultronics International Holdings Limited (currently known as DreamEast Group Limited), a company the shares of which are listed on the Stock Exchange, from 1993 to 1995.

He has over 30 years of experience in the international trade and China trade business. Mr. Tse Kam Pang is a vice chairman of Hong Kong Furniture Association and has extensive experience in the manufacture and sale of furniture business. Mr. Chong Tsz Ngai, aged 34, was a director of debt capital markets (DCM) at United Overseas Bank Limited, Hong Kong Branch from 2021 to 2022.

He was a vice president of DCM of CNCB (Hong Kong) Capital from 2019 to 2021 and was previously a vice president of the fixed income, currency and commodities department of GF Global capital Limited from March to December 2019. Mr. Chong Tsz Ngai has over ten years of experience in the corporate finance industry. Mr. Chong Tsz Ngai holds a Master's Degree in Finance from Imperial College London and was awarded a Bachelor's Degree in accounting and finance with first-class honour by Lancaster University.

Mr. Chong Tsz Ngai is a son-in-law of Mr. Tse Kam Pang, the chairman of the Board, an executive Director and a controlling shareholder of the Company. Mr. Tse Hok Kan, aged 39, holds a Master of Science degree in Accounting from The Hong Kong Polytechnic University and a Bachelor of Business Administration degree - joint major in accounting and finance from Simon Fraser University. He had held the position of executive director of Royale Home from 2016 to 2019.

He has extensive experience in production, development, marketing of furniture and Hong Kong and China trade businesses. Mr. Tse Hok Kan is a son of Mr. Tse Kam Pang, the chairman of the Board, an executive Director and a controlling shareholder of the Company. Dr. Kwan Pun Fong Vincent, aged 71, served as the vice president of the Hong Kong Shipping Department of Citibank, the vice president of the Asia-Pacific Elevator Department of United Technologies Company the managing director of Hintful Capital Group, professor of Beijing Normal University - Hong Kong Baptist University United International College, executive dean of the HKU Zhejiang Institute of Research and Innovation.

He is currently a member of the Executive Committee of Hong Kong Economic Association, the chief advisor of the think tank of Qingshanhu Sci-tech City in Hangzhou, Zhejiang, the president of Zhuhai Chuangke Yinlian Business Consulting Co., Ltd, the vice chairman of Shanghai Qiaoyue IoT Technology Co., Limited, a Director of Hong Kong Economic Trading International Association and the chairman of the Education and Training Committee. Dr. Kwan Pun Fong Vincent is an independent director of China Zheshang Bank Co. Ltd.,.

He was the chief financial officer of Yew Chung Education Foundation in Hong Kong from 2001 to 2013. From 2010 to 2015, he served as an independent non- executive director of Link-Asia International MedTech Group Limited. Dr. Kwan Pun Fong Vincent was an independent director of Jiangling Motors Corporation Limited, from 2008 to 2012 and a non-executive director of Finet Group Limited from 2002 to 2008.

Dr. Kwan Pun Fong Vincent obtained a Doctoral Degree in Business Administration from the University of Western Sydney in Australia in May 2004, a Master's Degree in Commerce from the University of Hitotsubashi in Japan in March 1981, and a Bachelor's Degree in Social Sciences from The University of Hong Kong in November 1973.