The board of directors of Wan Kei Group Holdings Limited announced that in order to devote more time to his personal commitments and other business, Mr. Leung Ka Fai Nelson (Mr. Leung) has tendered his resignation as an independent non-executive Director and has ceased to be the chairman of the remuneration committee (the Remuneration Committee) of the Company and a member of each of the audit committee (the Audit Committee) and nomination committee (the Nomination Committee) of the Company with effect from 7 September 2023. Mr. Leung has confirmed that he has no disagreement with the Board and that he is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board announced that with effect from 7 September 2023, (1) Mr. Bai Huawei (Mr. Bai) has been appointed as an executive Director; (2) Mr. Zhang Yi (Mr. Zhang) has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee and a member of each of the Audit Committee and Nomination Committee in place of Mr. (Mr. Jiang) has been appointed as an independent non- Leung; and (3) Mr. Jiang Senlin executive Director.

Mr. Bai, aged 44, has over 20 years of experience in securities trading, enterprise listing, investment, financing and fund management and also has extensive professional experience in the energy field during his past cooperation with central state-owned enterprises in China. He has been a managing director of Xinglin Investment (Hong Kong) Limited since December 2015, a representative for type 1 (dealing in securities) regulated activities under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong, the "SFO") (Type 1) of Shun Loong Securities Company Limited since May 2020 and a representative for type 9 (asset management) regulated activities under the SFO (Type 9) of Capital Focus Asset Management Limited since May 2020. Mr. Bai was also a representative for Type 1 of Emperor Securities Limited from March 2010 to May 2020, a representative for Type 1 of Emperor Wealth Management Limited from May 2012 to June 2017, a representative for type 2 (dealing in futures contracts) regulated activities under the SFO of Emperor Futures Limited from August 2017 to May 2020 and a representative and responsible officer for Type 9 of Emperor Asset Management Limited from August 2011 to October 2014 and from October 2014 to June 2017, respectively.

Mr. Zhang, aged 43, obtained his bachelor 's degree in finance management from Xi 'an Jiaotong University in July 2000. Mr. Zhang passed the SAC Securities Industry Professional Level Evaluation Test SAC the Securities Association of China by "securities trading" on securities investment analysis" and "fundamental knowledge in securities market" June 2012. He had also passed in the AMAC Fund Practitioner Qualification Examination AMAC Asset by Management Association of China "fundamental knowledge in security on investment funds" and "laws and regulations, professional ethics and in December 2016.

In addition, business practices of funds", Mr. Zhang has also been the general manager in Shenzhen Sanzhi Mingxiang Cultural Media Co. Ltd. since September 2015. Mr. Jiang, aged 51, has over 20 years of experience in financial and investment management.

He has been the vice-president, chief financial officer and chief executive officer in Wonderland International Asset Management Limited since January 2018. Mr. Jiang worked in Beijing Renge Technology Corp. Ltd. as vice general manager and chief financial officer from September 2015 to December 2017.

He also worked as chief financial officer (Asia) in Morningstar Inc. from August 2009 to September 2015. Mr. Jiang has been an independent non-executive director of China Ruifeng Renewable Energy Holdings Limited, since January 2019 and an executive director of Enviro Energy International Holdings Limited, since June 2019. From March to June 2022, Mr. Jiang was a non- executive director of Suoxinda Holdings Limited.

Mr. Jiang qualified as an accountant in the People's Public of China in May 1998 and as an intermediate financial officer conferred by the Ministry of Personnel People's Republic of China in November 1997. Mr. Jiang completed his research program in Art and Culture at Sichuan University in July 2000 and obtained his bachelor's degree in Accountancy at the Central Institute of Finance (now known as the Central University of Finance and Economics) in June 1993.