Shunten International (Holdings) Limited announced that Mr. Wang Xihua has submitted his resignation to the Board, resigning from his positions as acting chairman of the Board and executive director of the Company in order to devote more time on his personal matters with effect from 24 October 2022. The Board announced that Mr. Cheung Siu Fai, an existing executive director of the Company, has been appointed as the chairman of the Board, with effect from 24 October 2022. The biographical details of Mr. Cheung are as follows: Mr. Cheung, aged 52, is an executive director of the Company since 24 January 2022. Mr. Cheung holds a Master Degree in Business Administration from The Chinese University of Hong Kong and a Bachelor Degree in Electronic Engineering from The Hong Kong Polytechnic University. Mr. Cheung founded Hammer Capital Group Limited in 2013. Prior to founding Hammer Capital Group Limited, he was the Director in Capital Markets of Merrill Lynch (Asia Pacific) Limited . Prior to his position at Merrill Lynch, Mr. Cheung was the Head of Strategic Equity Solutions of Asia Pacific of Citigroup Global Markets Asia Limited. Mr. Cheung had also held key positions in various major investment banks in Asia Pacific such as Calyon Corporate & Investment Bank (presently known as Credit Agricole Corporate & Investment Bank) and Jardine Fleming Holdings Limited (a member of JPMorgan Chase & Co.). Mr. Cheung was an executive director of Asia Coal Limited (``Asia Coal'') between 15 May 2014 and 18 June 2019, the shares of Asia Coal were delisted from the Main Board of the Stock Exchange on 18 June 2019. Mr. Cheung was also an executive director of CT Environmental Group Limited (``CTEG'') between 3 August 2020 and 10 November 2020 and was appointed as an executive director again and the chief executive officer of CTEG between 19 April 2021 and 19 January 2022, and the shares of CTEG were delisted from the Main Board of the Stock Exchange with effect from 10 September 2021. He is currently the chairman and executive director of Great Wall Terroir Holdings Limited, the shares of which are listed on the Main Board of the Stock Exchange. Mr. Cheung has confirmed that, as at the date of this announcement, he is interested in 736,194,000 shares of the Company, of which he is (i) the beneficial owner of 12,952,000 shares of the Company and (ii) deemed to be interested in 723,242,000 shares of the Company through Hammer Capital Private Investments Limited, an entity where Mr. Cheung is a director and having a security interest in the shares of the Company. Save as disclosed above, as at the date of this announcement, Mr. Cheung does not (i) have any relationship with any other Directors, senior management, substantial or controlling shareholders of the Company; (ii) have any other interest in the shares of the Company within the meaning of Part XV of the Securities and Future Ordinance; and (iii) hold any directorship in other listed public companies in the three years preceding the date of this announcement or any position in the Company or other members of the
Group.