Sunfonda Group Holdings Limited announce that Dr. Han Qinchun ("Dr. Han") has been appointed as an independent non-executive director of the Company, and the chairman of the audit committee of the Company (the "Audit Committee"), a member of each of the nomination committee, remuneration committee and finance and investment committee of the Company with effect from 18 May 2023. The Board further announces that Mr. Liu Jie has been re-designated from the position of the chairman of the Audit Committee to a member of the Audit Committee with effect from 18 May 2023. Dr. Han Qinchun, aged 65, was appointed as an independent non-executive director of the Company on 18 May 2023.

Dr. Han obtained a Bachelor degree in Planning in 1982 from Xi'an University of Architecture and Technology and a Master degree in China Real Estate Finance in 1995 from The University of Hong Kong, and then obtained a Doctorate degree in Urban Economics and Management from The University of Hong Kong in 1998. Dr. Han worked for the government agencies of the Ministry of Chemical Industry and the Ministry of Forestry of the People's Republic of China from 1982 to 1993. Dr. Han has extensive experience in financial investment and has served the supervisory roles at a number of leading Hong Kong investment banks from 1998 to 2006, including Shun Hing China Investment Limited (Hong Kong), BOCI Securities Limited (Hong Kong), China Everbright Securities (HK) Limited and ABC International Holdings Limited (Hong Kong).

He was appointed as vice-chairman and co-chief executive director of Suncity Group Holdings Limited (formerly known as Hong Long Holdings Limited), a company listed on the Stock Exchange (Stock Code: 1383) since March 2006 to February 2010. From 2012 to 2014, Dr. Han acted as a chief executive director of Straits Development Holding Company Limited, where he was responsible for the company's development strategy, capital market operation, financial management and investment and financing management. Dr. Han was also appointed as a director and distinguished professor of the Real Estate Research Centre at Peking University HSBC Business School from 2011 to 2015.

Since 2014, Dr. Han has been acting as the founder and chairman of a Hong Kong fintech company ­ Hong Kong Private Markets Limited. Dr. Han has extensive experience in investment, financial management and management of listed companies. Dr. Han has entered into an appointment agreement with the Company for an initial term from 18 May 2023 to 31 December 2025 and the appointment agreement can be terminated by either party giving to the other not less than three months' prior notice in writing.

He is subject to retirement by rotation and re-election in accordance with the Listing Rules and the Articles of Association of the Company.