Zhongzhi Pharmaceutical Holdings Limited announced that Mr. Lai Ying Sheng ("Mr. Lai") has been appointed as executive director of the Company with effect from 24 March 2022. Mr. Lai Ying Sheng aged 28, joined Group on 1 October 2018 as the Group's Assistant Financial Controller and on 24 March 2021 as the Chief Financial Officer. Since then, he has worked in the audit practice of KPMG LLP, Vancouver office, and has completed his Chartered Professional Accounting Qualifications during his time at KPMG. Upon joining the Group in 2018, Mr. Lai headed the Group's Accounting department in its daily operations and, over time, began to manage the Group's other management functions including Human Resources, Internal
Controls, Investor Relationships and Purchasing. The Board announces that Mr. Cheng Jin Le ("Mr. Cheng") has resigned as an executive
director of the Company with effect from 24 March 2022 due to his other business commitments. Mr. Cheng has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and the Stock Exchange. The Company would like to express gratitude to Mr. Cheng for his continuous supports and contributions to the Company.