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. Lo Wa Kei Roy ("Mr. Lo") has tendered his resignation as an independent non-executive Director and has ceased to be the chairman of each of the audit committee and the nomination committee of the Company and a member of the remuneration committee of the Company with effect from 5 January 2024. The Board announced that with effect from 5 January 2024, Mr. Wang Yu (?Mr. Wang") has been appointed as an executive Director; and Mr. Lui Kwok Wai ("Mr. Lui") has been appointed as a non-executive Director. Mr. Wang, aged 38, is a managing partner at BRICs (Xiamen) Equity Investment Fund Co.

Ltd. since December 2018. Prior to that, Mr. Wang served as post-doctoral analyst at China Oceanwide Holdings Group Co. Ltd. from May 2017 to May 2019 and chief analyst at Zhuhai ValueHunter Investment Fund Management Co.

Ltd. from September 2014 to September 2015. Mr. Wang obtained a bachelor's degree in finance and a master's degree in management studies from Waikato University in the New Zealand in June 2009 and August 2011 respectively, and a doctor's degree in management from City University of Macau in September 2014. He was also a postdoctoral fellow in theoretical economics at Chinese Academy of Social Sciences in the People's Republic of China from May 2017 to May 2019.

Mr. Lui Kwok Wai, aged 33, was appointed as the vice president of OCI International Holdings Limited ("OCI International"), a company listed on the Stock Exchange, since November 2020. He is also a director of various subsidiaries of OCI International and the managing director and responsible officers of OCI Asset Management Company Limited, an indirectly wholly owned subsidiary of the OCI International. He manages SFC Type 1, Type 4 and Type 9 regulated activities and also acts as the overall management oversight and the manager-in-charge of key business line functions.

Mr. Lui is focusing on company management, fund investment & capital market area, and business development. Mr. Lui has extensive experience in capital market and corporate finance. He served as the Senior vice president of the leverage & acquisition finance division of Mason Securities Limited from October 2016 to July 2020.

Mr. Lui was responsible for margin finance, general offer finance, merge & acquisition projects, asset management, advising on securities trading and funds investment, as well as issuance of investment research report. Mr. Lui also served as non-executive director of China International Development Corporation Limited, a company listed on the Stock Exchange, from February 2017 to March 2018. Mr. Lui obtained a bachelor's degree of Science in Engineering (Environmental Engineering) from the University of California, San Diego in 2013.

With effect from 5 January 2024, Mr. Yan Shuai and Mr. Zhang Zhenyi have ceased to be the chairman and a member of the investment committee of the Company (the "Investment Committee") respectively; and Mr. Bai Huawei ("Mr. Bai") has been appointed as the chairman of the Investment Committee. Mr. Bai 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. With effect from 5 January 2024, each of Mr. Wang and Mr. Lui is also appointed as a member of the Investment Committee.

Accordingly, the Investment Committee comprises three members in compliance with its terms of reference. With effect from 5 January 2024, Mr. Jiang Senlin ("Mr. Jiang"), an independent non-executive Director, has been appointed as the chairman of each of the Audit Committee and Nomination Committee and a member of the Remuneration Committee in place of Mr. Lo. Mr. Jiang has over 20 years of experience in financial and investment management and was 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 (now known as the Central University of Finance and Central Institute of Finance Economics) in June 1993.