The board of directors of Transcenta Holding Limited announced that Dr. Jun Bao has tendered his resignation as an independent non-executive Director with effect from August 23, 2023, due to his desire to devote more time to his other commitments. Dr. Bao has confirmed that he has no claim against the Company and there is no disagreement between him and the Board; and there are no matters that need to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company. The Board also announced that Ms. Helen Wei Chen has been appointed as an independent non-executive Director with effect from August 23, 2023.

Ms. Chen, aged 56, serves as the global sector co-head for the healthcare practice and the Greater China managing partner of L.E.K. Consulting based in Shanghai. Ms. Chen has over 30 years of consulting and industry experience in the U.S. and Asia markets and has lived in China since 2000. Ms. Chen helps companies expand their presence in China and Asia, and leverages Asia's innovation to improve their global businesses.

Ms. Chen was named one of Consulting magazine's Global Leaders in Consulting in 2019. Ms. Chen is a frequent speaker and author on the opportunities and issues in the China healthcare and life sciences industry, and has been quoted by publications including BioCentury, BioWorld, In Vivo, Wall Street Journal, Financial Times and Forbes Asia. Prior to joining L.E.K., Ms. Chen was an associate director of finance at Genentech Inc. (a wholly-owned member of the Roche Group, which is listed on OTCQX, stock code: RHHBY) and a sales planner at Abbott Laboratories (subsequently split to AbbVie Inc. Ms. Chen received her A.B. cum laude in applied mathematics from Harvard University.

Ms. Chen has entered into a letter of appointment with the Company for a term of three years commencing from August 23, 2023 and until terminated by either party by giving at least three months' notice. Ms. Chen is subject to retirement by rotation and re-election at the upcoming annual general meeting in accordance with the memorandum and articles of association of the Company and the Corporate Governance Code as set out in Appendix 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Dr. Bao also ceased as the chairperson of the Remuneration Committee and the member of the Nomination Committee with effect from August 23, 2023.

Following the resignation of Dr. Bao, the Board further announced that Dr. Kumar Srinivasan has been appointed as the chairperson of the Remuneration Committee with effect from August 23, 2023.