Huiyin : CHANGE OF DIRECTORS, CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, AUTHORISED REPRESENTATIVES AND COMPOSITION OF BOARD COMMITTEES, AND RE-DESIGNATION OF DIRECTORS

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HUIYIN HOLDINGS GROUP LIMITED

匯 銀 控 股 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1178)

CHANGE OF DIRECTORS, CHIEF EXECUTIVE OFFICER,

CHIEF FINANCIAL OFFICER,

AUTHORISED REPRESENTATIVES AND

COMPOSITION OF BOARD COMMITTEES, AND

RE-DESIGNATION OF DIRECTORS

The Board is pleased to announce that with effect from 30 July 2020:

1. Mr. Kam Kit, an executive Director, has been re-designated as a non-executive Director and has resigned as the Chief Executive Officer, the Authorised Representative and a member of the Strategic Development Committee;
2. Ms. Chan Christina has resigned as an executive Director and a member of the Strategic Development Committee;
3. Mr. Yuen Chi Ho has resigned as an executive Director, the Chief Financial Officer and a member of the Strategic Development Committee;
4. Ms. Lu Zhuo has resigned as an independent non-executive Director and the member of each of the Audit Committee, Remuneration Committee and Nomination Committee;
5. Mr. Jiang Bian has been appointed as an executive Director and the Chief Financial Officer;
6. Mr. Shi Zhengjian has been appointed as an executive Director;
7. Mr. Li Dongming, an independent non-executive Director, has been re-designated as an executive Director, has been appointed as the Chief Executive Officer, a member of the Strategic Development Committee and an Authorised Representative, and has resigned as member of each of the Audit Committee, Remuneration Committee and Nomination Committee;
8. Ms. Yang Bei has been appointed as an independent non-executive Director and a member of each of the Audit Committee, Remuneration Committee and Nomination Committee;

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1. Ms. Hui Yuet Yuet has been appointed as an independent non-executive Director and a member of each of the Audit Committee, Remuneration Committee and Nomination Committee; and
2. Ms. Chan Man Sze has been appointed as an Authorised Representative.

RESIGNATION OF DIRECTORS, CHIEF EXECUTIVE OFFICER AND AUTHORISED REPRESENTATIVE AND CHANGE OF COMPOSITION OF BOARD COMMITTEES

The board (the ''Board'') of directors (the ''Directors'') of Huiyin Holdings Group Limited (the ''Company'', together with its subsidiaries, the ''Group'') announces that with effect from 30 July 2020, (i) Mr. Kam Kit (''Mr. Kam'') has resigned as the chief executive officer of the Company (the ''Chief Executive Officer''), the authorised representative of the Company (the ''Authorised Representative(s)'') under Rule 3.05 of the Rules (the ''Listing Rules'') Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'') and a member of the strategic development committee of the Company (the ''Strategic Development Committee''); (ii) Ms. Chan Christina (''Ms. Chan'') has resigned as an executive Director and a member of the Strategic Development Committee due to her other commitments; (iii) Mr. Yuen Chi Ho (''Mr. Yuen'') has resigned as an executive Director, the chief financial officer of the Company (the ''Chief Financial Officer'') and a member of the Strategic Development Committee due to his professional style not to align with the Company's culture; (iv) Ms. Lu Zhuo (''Ms. Lu'') has resigned as an independent non-executive Director and a member of each of the audit committee of the Company (the ''Audit Committee''), the remuneration committee of the Company (the ''Remuneration Committee'') and the nomination committee of the Company (the ''Nomination Committee'') due to her other commitments.

Each of Ms. Chan, Mr. Yuen and Ms. Lu has confirmed that he/she has no disagreement with the Board and there are no other matters in relation to his/her resignation that needs to be brought to the attention of the shareholders of the Company (the ''Shareholders'') and the Stock Exchange.

The Board would like to take this opportunity to express its sincere gratitude to each of Ms. Chan, Mr. Yuen and Ms. Lu for his/her contributions to the Company during his/her tenure of office.

RE-DESIGNATION AND APPOINTMENT OF DIRECTORS, APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER, AND CHANGE OF COMPOSITION OF BOARD COMMITTEES

The Board is pleased to announce that (i) Mr. Jiang Bian (''Mr. Jiang'') has been appointed as an executive Director and the Chief Financial Officer; (ii) Mr. Shi Zhengjian (''Mr. Shi'') has been appointed as an executive Director; (iii) Ms. Yang Bei (''Ms. Yang'') has been appointed as an independent non-executive Director and a member of each of the Audit Committee, Remuneration Committee and Nomination Committee; (iv) Ms. Hui Yuet Yuet (''Ms. Hui'') (formerly known as Ms. Xu Yue Yue) has been appointed as an independent non-executive Director and a member of each of the Audit Committee, Remuneration

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Committee and Nomination Committee; (v) Mr. Li Dongming (''Mr. Li''), an independent non-executive Director, has been re-designated as an executive Director, has been appointed as the Chief Executive Officer and a member of the Strategic Development Committee, and has resigned as member of each of the Audit Committee, Remuneration Committee and Nomination Committee; and (vi) Mr. Kam, an executive Director, has been re-designated as a non-executive Director and remains as the chairman of the Board, all with effect from 30 July 2020.

The biographical details of Mr. Jiang are set out as follows:

Mr. Jiang, aged 32, has over 11 years of experience in accounting and financial management. He is currently the chief financial officer of 深圳市恒裕堂投資有限公司 (Shenzhen Hengyu Tang Investment Limited*). During the period from May 2015 to January 2020, he held various positions of Tempus Holdings Limited (stock code: 6880), a company listed on the Main Board of the Stock Exchange, including serving as the financial controller from January 2018 to January 2020 and senior finance manager from May 2015 to December 2017. He served as the finance manager of Shenzhen Huaqiang Holdings Limited, a company listed on the Shenzhen Stock Exchange, from June 2014 to April 2015. He holds a bachelor's degree in financial management from Sun Yat-sen University.

The Company has entered into a service agreement with Mr. Jiang for a term of three years commencing from 30 July 2020, which may be terminated by either party giving to the other not less than one month's prior notice in writing. Mr. Jiang is entitled to a monthly salary of HK$40,000 on a thirteen months' basis with discretionary bonus which was determined by the Board with recommendation of the Remuneration Committee after considering a range of factors including his experience, his duties and responsibilities in the Group, the remuneration structure of the Group and levels of remuneration for peers in the market. His directorship is subject to retirement by rotation and re-election of the Company in accordance with the articles of association of the Company (the ''Articles'').

The biographical details of Mr. Shi are set out as follows:

Mr. Shi, aged 45, has extensive experience in enterprise operations and management. He is currently the president of each of 灣匯城市更新（深圳）有限公司 (Wanhui City Upgrade (Shenzhen) Company Limited*), 深圳市前海匯銀金融控股有限公司 (Shenzhen Qianhai Huiyin Finance Holding Company Limited*), 深圳市匯銀房地產開發有限公司 (Shenzhen Huiyin Real Estate Development Company Limited*) and 深圳市匯銀集團控股有限公司 (Shenzhen Huiyin Group Holding Company Limited*). He holds a bachelor's degree in software engineering from Jiangxi University of Technology.

The Company has entered into a service agreement with Mr. Shi for a term of three years commencing from 30 July 2020, which may be terminated by either party giving to the other not less than one month's prior notice in writing. Mr. Shi is entitled to a monthly salary of HK$10,000 on a thirteen months' basis with discretionary bonus which was determined by the Board with recommendation of the Remuneration Committee after considering a range of factors including his experience, his duties and responsibilities in the Group, the remuneration structure of the Group and levels of remuneration for peers in the market. His directorship is subject to retirement by rotation and re-election of the Company in accordance with the Articles.

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The biographical details of Ms. Yang are set out as follows:

Ms. Yang, aged 40, has extensive experience in marketing, merchandising and operation management. She is currently a business director of Oxwood Education Company Limited. She was an assistant merchandising manager of Li & Fung (Trading) Limited from August 2009 to July 2010 and a merchandising manager of Sunvalley Trading Company Limited from August 2007 to July 2009. She holds a Bachelor of Fashion Engineering degree from Zhejiang Sci-Tech University and a Master of Business Administration (Fashion Business) from Hong Kong Polytechnic University.

Under the letter of appointment entered into between Ms. Yang and the Company, the appointment will take effect from 30 July 2020 for a term of one year provided that her employment may be terminated at any time on expiry of not less than one month's written notice given by any party. Her directorship in the Company is subject to retirement and reelection at general meetings of the Company in accordance with the Articles.

Ms. Yang is entitled to receive a remuneration of HK$10,000 per month. Her remuneration package was determined by the Board after considering a range of factors including her experience, her duties and responsibilities in the Group, the remuneration structure of the Group and levels of remuneration for peers in the market.

The biographical details of Ms. Hui are set out as follows:

Ms. Hui, aged 41, has over 16 years' experience in the electronics industry (mainly manufacture of central processing units of computers). She is currently a director of Longda Holdings Limited. She served as an executive director of Kingwell Group Limited (stock code: 1195) (''Kingwell Group''), a company listed on the Main Board of the Stock Exchange, from January 2010 to May 2015. She graduated from 湖北省經濟管理幹部學院 (Economics and Management Cadre College, Hubei Province*).

Under the letter of appointment entered into between Ms. Hui and the Company, the appointment will take effect from 30 July 2020 for a term of one year provided that her employment may be terminated at any time on expiry of not less than one month's written notice given by any party. Her directorship in the Company is subject to retirement and reelection at general meetings of the Company in accordance with the Articles.

Ms. Hui is entitled to receive a remuneration of HK$10,000 per month. Her remuneration package was determined by the Board after considering a range of factors including her experience, her duties and responsibilities in the Group, the remuneration structure of the Group and levels of remuneration for peers in the market.

The biographical details of Mr. Li are set out as follows:

Mr. Li, aged 45, has extensive experience in the areas of capital markets, finance, asset management, etc.. He graduated from Shandong University of Finance and Economics with a bachelor's degree in economics. He holds a master's degree in economics and doctorate degree in economics from Renmin University of China. He was an independent non- executive Director from 10 June 2020 to 30 July 2020. He is currently an independent non- executive director of 深圳市京基智農時代股份有限公司 (Shenzhen Kingkey Smart Agriculture Times Co., Ltd.*) (stock code: 000048.SZ), a company listed on the Shenzhen

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Stock Exchange. He served as an executive director of Tempus Holdings Limited (stock code: 6880), a company listed on the Main Board of the Stock Exchange, from October 2016 to October 2019 and served as its chief executive officer from October 2016 to August 2019. He also served as an independent non-executive director of 騰邦國際商業服務集團股 份有限公司 (Tempus Global Business Service Group Holding Ltd.*) (stock code: 300178.SZ), a company listed on the Shenzhen Stock Exchange, from November 2014 to October 2016. He was an independent non-executive director of 深圳市中洲投資控股股份有 限公司 (Shenzhen Centralcon Investment Holding Co., Ltd.*) (stock code: 000042.SZ), a company listed on the Shenzhen Stock Exchange, from October 2013 to June 2017 and a director of 廣東富源科技股份有限公司 (Guangdong Fuyuan Technology Co., Ltd.*) (stock code: 834315), a company listed on The National Equities Exchange and Quotations, from June 2015 to September 2017. From August 2010 to May 2013, Mr. Li was a general manager in the department of planning and cooperation of 中國國家開發銀行金融有限公司 (China Development Bank Capital Co., Ltd.*). From February 2008 to August 2010, he was an executive president of 北京鑫恒投資管理有限公司 (Beijing Xinheng Investment Management Co., Ltd.*). He has also previously assumed certain managerial positions in several state-owned financial institutions.

The Company has entered into a service agreement with Mr. Li for a term of three years commencing from 30 July 2020, which may be terminated by either party giving to the other not less than one month's prior notice in writing. Mr. Li is entitled to a monthly salary of HK$50,000 on a thirteen months' basis with discretionary bonus which was determined by the Board with recommendation of the Remuneration Committee after considering a range of factors including his experience, his duties and responsibilities in the Group, the remuneration structure of the Group and levels of remuneration for peers in the market. His directorship is subject to retirement by rotation and re-election of the Company in accordance with the Articles.

The biographical details of Mr. Kam are set out as follows:

Mr. Kam, aged 40, has extensive experience in the investments, management and operations of listed companies. He has been the chairman of the Board since 27 December 2018 and was the Chief Executive Officer, an executive Director and the Authorised Representative from 27 December 2018 to 30 July 2020. He is currently the directors of certain subsidiaries of the Group. From 2009 to 2015, he was the investment director at Kingwell Group and was mainly responsible for project investments and the management of market development of the company. In 2015, Mr. Kam has established 深圳前海小金桔控股(集團)有限公司 (Shenzhen Qianhai Xiaojinji Holdings (Group) Co., Ltd.*) (''Shenzhen Qianhai'') and has been the general manager and the executive director of Shenzhen Qianhai since then. He obtained a Bachelor's Degree in Commerce and a Graduated Diploma in Business Administration from The University of Sydney in 2002 and 2004 respectively.

Under the letter of appointment entered into between Mr. Kam and the Company, the appointment will take effect from 30 July 2020 for a term of one year provided that his employment may be terminated at any time on expiry of not less than one month's written notice given by any party. His directorship in the Company is subject to retirement and reelection at general meetings of the Company in accordance with the Articles.

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Mr. Kam is entitled to receive a remuneration of HK$50,000 per month. His remuneration package was determined by the Board after considering a range of factors including his experience, his duties and responsibilities in the Group, the remuneration structure of the Group and levels of remuneration for peers in the market.

Save as disclosed herein, each of Mr. Jiang, Mr. Shi, Ms. Yang, Ms. Hui, Mr. Li and Mr. Kam did not hold any other directorship in the last three years in other public company the securities of which are listed on any securities market in Hong Kong or overseas and does not have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company and does not hold any position of the Company and other companies within the Group.

As at the date of this announcement, each of Mr. Jiang, Mr. Shi, Ms. Yang, Ms. Hui, Mr. Li and Mr. Kam does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Each of Ms. Yang and Ms. Hui has confirmed that she has met the independence criteria as set out in Rule 3.13 of the Listing Rules. Save as disclosed in this announcement, each of Mr. Jiang, Mr. Shi, Ms. Yang, Ms. Hui, Mr. Li and Mr. Kam confirmed that there is no other information which requires to be disclosed pursuant to Rule 13.51(2) of the Listing Rules nor is there any other matter regarding his/her appointment that need to be brought to the attention of the Shareholders.

The Board would like to take this opportunity to express its warmest welcome to each of Mr. Jiang, Mr. Shi, Ms. Yang and Ms. Hui for joining the Board.

APPOINTMENT OF AUTHORISED REPRESENTATIVES

Mr. Li and Ms. Chan Man Sze, the company secretary of the Company, have been appointed as the Authorised Representatives with effect from 30 July 2020.

By order of the Board

Huiyin Holdings Group Limited

Kam Kit

Chairman and Non-executive Director

Hong Kong, 30 July 2020

As at the date of this announcement, the Board comprises Mr. Li Dongming, Mr. Jiang Bian, Mr. Chin Wai Keung Richard, Mr. Shi Zhengjian and Mr. Han Qingyun as executive Directors; Mr. Kam Kit as non-executive Director and Mr. Leng Xiaokang, Ms. Hui Yuet Yuet and Ms. Yang Bei as independent non-executive Directors.

• For identification purposes only

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