The board of directors of Prosper Construction Holdings Limited (the "Company", together with its subsidiaries, the "Group") announced that the resolutions for appointment of Mr. Jiang Hongchang as executive Director and chairman of the Board has been passed at the annual general meeting of the company held on 28 June 2022 with immediate effect. The board has further resolved to appoint Mr. Jiang Hongchang as chief executive officer of the Group. Mr. Jiang Hongchang, aged 45, holds a bachelor's degree in civil engineering from Shandong University of Technology in the People's Republic of China and is qualified as a senior engineer.

Mr. Jiang is currently a Party Committee member, deputy general manager and chief engineer of Qingdao Haifa State-owned Capital Investment and Operation Group Company Limited, and is also serving as either chairman or director of Qingdao Xifa Properties Limited, Qingdao Haifa Asset Management Co. Ltd. and Qingdao Haifa Healthcare Group Co. Ltd. Mr. Jiang has over 22 years of experience in professional construction engineering management.

From May 2014 to September 2016, he served as the minister of development and construction department, assistant general manager and minister of development and construction department and Party Committee member of Qingdao Haifa State-owned Capital Investment and Operation Group Company Limited; from July 2007 to May 2014, he worked as staff member and principal staff member of the Port and Maritime Administration Bureau of the Qingdao Municipal Transport Commission, during which he simultaneously served as the head and minister of development and construction department of Qingdao West Coast Development Group Limited from March 2012 to May 2014, and as staff member and principal staff member of Qingdao Dongjiakou Port Area Development and Construction Headquarters Office from June 2009 to March 2012; from July 1999 to July 2007, he worked in Shandong Provincial Port Engineering Corporation where his final position was project manager. The Board further announced that, Mr. Cui Qi has been re-designated from an executive Director to a non-executive Director and has ceased to act as chief executive officer with effect from 28 June 2022 in order to allocate more time to his other work commitment. Mr. Cui Qi, aged 59, is one of the founders of the Group and has been a Director since October 2015 and is also a director of all key operating subsidiaries of the Group in Hong Kong and Macao.

Mr. Cui holds a bachelor's degree in naval port engineering from Hohai University and a master's degree in construction economics and management from Tongji University. Mr. Cui was admitted as a senior engineer from the Ministry of Transport (previously known as the Ministry of Communications) of the PRC in October 1995. He was then admitted as a registered Project Manager (1st Class) in the PRC from the Ministry of Constructions in July 1997.

Mr. Cui was admitted as member of the Hong Kong Institute of Construction Managers in February 2000. He was then admitted as a Member of The Chartered Institute of Building in February 2006 and a registered Constructor (1st Class) in the PRC in January 2007. Mr. Cui was admitted as a Fellow Member of the Chartered Institution of Civil Engineering Surveyors in January 2015 and a Fellow of the Institution of Civil Engineers in January 2019.

Mr. Cui has over 30 years of experience in the marine construction industry and served as the managing director of China Harbour Engineering Company Hong Kong Branch ("CHECHK"), and a director of C&P Myanmar Pte Ltd. and China Infra-Structure Investment Ltd., which were two joint venture companies formed by CHEC and other partners. After he left CHECHK and its joint venture companies in January 1998, Mr. Cui became the director of China Geo-engineering (Singapore) Pte Ltd, between June 1999 and April 2003. Mr. Cui was, at various time from April 2005 until present, a director of Shenzhen Changsheng Marine Engineering Limited and a director of China State Construction Port Engineering Group Corporation Limited since December 2009.