Core Economy Investment Group Limited announced that Mr. YANG has been appointed as a non-executive Director and the deputy chairman of the Board with effect from 19 October 2023. The biographical details of Mr. YANG are set out below: Mr. YANG Zhicheng, formally known as YANG Zhichun*, aged 40, was educated and holds a diploma of Financial Management from The Open University of China in the People's Republic of China. Mr. YANG currently is a merchant.

Mr. YANG has around five years experience in business management. He was a chief strategy officer of Zhongchan Huijin Investment Holding(Shenzhen) Group Limited* () from 2019 to 2022. Mr. YANG has entered into a letter of appointment with the Company.

His directorship in the Company shall be for a term of one year commencing from 19 October 2023. Mr. YANG's directorship is subject to the retirement by rotation and re-election at an annual general meetingof the Company in accordance with the provision of the bye-laws of the Company. Mr. YANG will hold the office until the next following AGM and will retire at that AGM, but will be eligible for re-election in accordance with the Bye-laws.

Mr. YANG is entitled to an annual director's fee of HK$120,000 for acting as the Director of, and/or holding other positions with the Company, which is determined by reference to his duties and responsibilities with the Company, the Company's business performance, profitability and prevailing market conditions and to be authorised by the shareholders of the Company at the AGM.