The Board Rimbaco announced that Rimbaco Group Global Limited has established a direct wholly-owned subsidiary, namely, Rimbaco (Greater Bay) Development Limited. To cope with the business development, Rimbaco (Greater Bay) has recruited Mr. Han Jun ("Mr. Han") as the business development director. Mr. Han has over 20 years of property related experience including property development, consultancy, operation, sales and marketing of residential and commercial projects in PRC, especially in Guangdong Province.

Mr. Han will be primarily responsible for the business exploration and market development of Rimbaco (Greater Bay) in the Greater Bay Area. With the joining of Mr. Han, the Board believes that the Company will gain more exposure and business network in the Greater Bay Area.