The board (the "Board") of directors of Huiyin Holdings Group Limited announced that: Mr. Zhang Yi Tuan is appointed as independent non-executive Director, the chairman of the remuneration committee and a member of each of the audit committee of the Company with effect from 29 March 2022; and Mr. Hong Sze Lung ("Mr. Hong") is appointed as independent non-executive Director, the chairman of the Audit Committee, the chairman of the nomination committee of the Company and a member of the Remuneration Committee with effect from 29 March 2022. Mr. Zhang has been long involved in the food logistics industry in the United States of America since 1999 and is a former chairman of Rongcheng Trading LLC. In 2012, he established an American, Taiwanese and Chinese-funded entity, Fujian Rongjin Group Co.

Ltd., in China and served as its president. Mr. Hong has accumulated 25 years of working experience and extensive knowledge in the fields of auditing, corporate finance and recovery, investments, corporate financial control as well as investor relations in Hong Kong and Mainland China. Mr. Hong is currently an independent non-executive director of Kelfred Holdings Limited, being appointed to that position since 1 September 2020.

Under the letter of appointment entered into between Mr. Hong and the Company, the appointment will take effect from 29 March 2022 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.