Top Education Group Ltd. announced that with effect from 21 March 2022, Ms. Rongning Xu, acting chief executive officer, will be appointed as executive Director. Ms. Xu, aged 35, has served in various roles in the Group for over ten years. Ms Xu has been president of the Company since 30 April 2021 and is primarily responsible for the overall management of higher education affairs, including but not limited to operations, risk management and compliance in all areas of the Group's higher education provision.

Ms. Xu has over ten years of experience in the higher education industry. Ms. Xu joined the Company in June 2009 as a casual tutor and served in the role until October 2010, during which she was responsible for teaching and academic administration. From November 2010 to January 2012, Ms. Xu was employed by Nanjing Da Lve Industry Trade Co.

Ltd, a company principally engaged in goods trading, as senior project manager. Ms. Xu then re-joined Company as a lecturer from March 2012 and became an academic programs coordinator in August 2013. From September 2013 to December 2013, Ms. Xu served as co-director of the professional year program.

From December 2013 to February 2016, Ms. Xu served as the acting director of business programs. Ms. Xu was then promoted to senior lecturer and associate dean of the business school in February 2016. She remained in those positions until she assumed the role of vice president of the Company from June 2017 to April 2021. Ms. Xu was appointed as an alternative Director to the late Dr. Minshen Zhu, founder of the Company, from 17 December 2018 to 28 April 2021.

In December 2021, Ms. Xu was appointed as acting chief executive officer of the Company. Ms. Xu has been serving as acting chief executive officer of Scots English College Pty Ltd, a subsidiary of the Company, since December 2021. Ms. Xu was admitted to full membership of CPA Australia in August 2013.

In September 2014, Ms. Xu obtained a postgraduate certificate of higher education in learning and teaching from Macquarie University in Australia. Ms. Xu also commenced her candidacy as executive doctorate in business administration program at Université Paris-Dauphine in July 2017. Ms. Xu has entered into a letter of appointment with the Company for an initial fixed term of three years, which is terminable by either party giving not less than three months' prior written notice.

Pursuant to such letter, Ms. Xu is entitled to receive an annual director's fee in the amount of AUD$147,000 from the Company, which was determined by the Board with reference to her duties and responsibilities and the prevailing market conditions. Ms. Xu will hold office until the next annual general meeting of the Company and be eligible for re-election at that meeting, and thereafter, be subject to retirement by rotation at least once every three years in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Ms. Xu is also entitled to receive an annual salary of AUD 250,000 and pension contribution in the amount of AUD 25,000 with respect to her position as president of the Company.

In addition, Ms. Xu will receive an annual salary of AUD 50,000 for taking up the role of chief executive officer.