The board of directors of China Pipe Group Limited, together with its subsidiaries, announced that, with effect from 1 July 2024, Mr. Lai Guanglin has been appointed as an executive director and co-chairman, member of the remuneration committee and chairman of nomination committee of the Company. Mr. Alan Lai, aged 60, acted as Non-executive Director and the Chairman of the Company from February 2009 to 13 March 2012. He was also a member and Chairman of the Remuneration Committee.

He was re-designated from a Non-executive Director to an Executive Director of the Company from 14 March 2012 to 30 March 2018. He was also the Chairman of the Nomination Committee and a member of the Remuneration Committee of the Company from 14 March 2012 to 30 March 2018. He rejoined the Board as an Executive Director and co-chairman of the Company on 1 July 2024.

He is also a Chairman of Nomination Committee and a member of Remuneration Committee of the Company. Mr. Alan Lai is the founder and the executive Chairman of the board of directors of Agria Corporation which is primarily engaged in investment activities in Australasia. He resigned as executive Chairman on 10 December 2018.

He was re-appointed as director and Chairman of the Board of Agria Corporation on 1 October 2019. PGG Wrightson Limited ("PGW") is an associated company of Agria Corporation. PGW is engaged in the provision of rural services to the farmers in New Zealand and South America and listed on the New Zealand Stock Exchange.

Mr. Alan Lai was appointed as a director of PGW in December 2009 and as the Chairman of the Board of the Directors of PGW in October 2013. He retired as a director and chairman of PGW on 30 October 2018. Mr. Alan Lai's wholly owned investment vehicle, Brothers Capital Limited, is Agria Corporation's largest shareholder.

Mr. Alan Lai has extensive experience in strategic investments, acquisitions and operation management. Mr. Alan Lai has established many other enterprises in China, Hong Kong and internationally, in particular, agricultural, animation, property management, health food and digital transformation etc. He takes a leading role in respect of strategic planning and business development in his investment portfolio.

Mr. Alan Lai holds Bachelor's degree in accounting from Monash University, Melbourne, Australia and a Master of business administration in finance from The Chinese University of Hong Kong. The Board announces that Mr. Lai Fulin ("Mr. Andy Lai") has been re-designated as co-chairman and has ceased to be a member of the Remuneration committee and the Chairman of the Nomination committee of the Company with effect from 1 July 2024. He will focus on development of production and purchasing of the Group.

Mr. Andy Lai, aged 58, acted as an Executive Director of the Company from October 2009 to May 2017 and continued to sit on the senior management team of the Group thereafter. Mr. Andy Lai rejoined the Board as an Executive Director of the Company on 27 November 2017 and was appointed as the Chairman of the Board since 30 March 2018. He was also the Chairman of Nomination Committee and a member of Remuneration Committee of the Company.

In addition, Mr. Andy Lai is the Head of Production & Purchasing of the Group and holds directorships in certain subsidiaries of the Company. Mr. Andy Lai has over 20 years of experience in the banking sector, investment management and general management of companies in China. Mr. Andy Lai worked in the Bank of China in Shenzhen from 1986 to 2001.

From 1995 to 2001, he was the deputy general manager of a subsidiary of Bank of China dealing with businesses in the securities industry. During the period from 2002 to 2008, Mr. Andy Lai was the general manager of Shenzhen Huaao Guanli Technologies Company Limited. Mr. Andy Lai holds a certificate of graduation in Chinese Language from Shenzhen Institute of Education.

Mr. Andy Lai is the younger brother of Mr. Alan Lai, the controlling shareholding of the Company. The Board announced that with effect from 1 July 2024, Mr. Alan Lai has been appointed as a member of the Remuneration Committee and the Chairman of the Nomination Committee and Mr. Andy Lai has ceased to be a member of the Remuneration Committee and the Chairman of the Nomination Committee of the Company. With effect from 1 July 2024, the composition of the Board committees has been changed as follows: Audit Committee: Mr. Wong Yee Shuen, Wilson (Chairman); Mr. Chen Wei Wen; Mr. Guan Zhiqiang; Mr. Wang Chaolong.

Remuneration Committee: Mr. Guan Zhiqiang (Chairman); Mr. Lai Guanglin; Mr. Chen Wei Wen; Mr. Wang Chaolong. Nomination Committee:Mr. Lai Guanglin (Chairman); Mr. Chen Wei Wen; Mr. Guan Zhiqiang; Mr. Wang Chaolong.