Huazhang Technology : Announcements and Notices - Appointment of A Director

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Huazhang Technology Holding Limited 華章科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1673)

APPOINTMENT OF A DIRECTOR

The board of directors (the "Board") of Huazhang Technology Holding Limited (the "Company") announces that with effect from 11 January 2019, Mr. Liang Huiqun ("Mr. Liang") has been appointed as an executive director of the Company.

The biographical details of Mr. Liang are as follows:

Mr. Liang Huiqun

Mr. Liang Huiqun (aged 56) obtained his diploma in Chinese from the Zhejiang Taizhou Teachers College (now known as Taizhou University) in 1982. From August 1988 to December 2018, Mr. Liang worked as vice president of Time Holding Group Limited, a company principally engages in investment holding, which including: financial investment, property development and hotel management. Mr. Liang has over 30 years of experience in financing and investments. Mr. Liang will be responsible for the financing and investing activities of the Group after his appointment as the Chief Investment Officer.

Mr. Liang has entered into a service contract with the Company pursuant to which Mr. Liang has been appointed as an executive director of the Company for a specific term of three years and will be subject to retirement and re-election at general meeting of the Company in accordance with the articles of association of the Company. Mr. Liang is entitled to a total remuneration of HK$80,000 per monthly for his appointment as an executive director of the Company and his employment as the Chief Investment Officer. In addition, performance based bonuses (in addition to any discretionary bonuses) may be payable to Mr. Liang from time to time as determined or to be determined by the Board in recognition of his contribution to the Company. The remuneration was determined by the Board based on the recommendation of the remuneration committee of the Company with reference to Mr. Liang's experience, duties, responsibilities and the prevailing market conditions as well as the remuneration package offered to the other executive directors of the Company.

As at the date of this announcement, Mr. Liang has no interest in any shares within the meaning of Part XV of the Securities and Futures Ordinance. Mr. Liang does not have other relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company (within the meaning of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Save as disclosed above, Mr. Liang has not held any directorships in any listed public companies in the last three years preceding the date of this announcement or any other position with the Company and other members of the Group or other major appointments and professional qualifications.

Save as disclosed above, there are no other matters relating to the appointment of Mr. Liang that need to be bought to the attention of the shareholders of the Company or any other information to be disclosed pursuant to the requirements of Rule 13.51(2) of the Listing Rules.

The Board would like to take this opportunity to welcome Mr. Liang to the Board.

On behalf of the Board

Huazhang Technology Holding Limited

Zhu Gen Rong

Chairman

Hong Kong, 11 January 2019

As at the date of this announcement, the executive Directors are Mr. Zhu Gen Rong, Mr. Wang Ai Yan, Mr. Jin Hao, Mr. Zhong Xin Gang and Mr. Liang Huiqun, and the independent non-executive Directors are Mr. Dai Tian Zhu, Mr. Kong Chi Mo and Mr Heng, Keith Kai Neng.