The board of directors of Crosstec Group Holdings Limited announces that, Mr. Wang Rong ("Mr. Wang") is appointed as an executive Director, chairman of the nomination committee of the Company (the "Nomination Committee"), a member of the remuneration committee of the Company (the " Remuneration Committee") and authorised representative of the Company with effect from 13 July 2023. Mr. Wang, aged 40, has extensive experience in the finance and private equities sectors. From April 2012 to March 2014, he served as the representative at Essence International Securities (Hong Kong) Limited, a licensed corporation to carry out Type 1 regulated activity (dealing in securities) and Type 4 regulated
activity (advising on securities) under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). From April 2013 to February 2021, Mr. Wang served as vice
president at Fulbright Financial Group (Hong Kong) Limited which provides financial services to clients. From April 2021 to April 2023, he was a director of Zhong Zi Xin Rong (Hainan) Private Equity Fund Management Co., Limited and was responsible for strategic development and investment and fund management. Mr. Wang also serves as the executive director of Lapco Holdings Limited, a company listed on GEM of the Stock Exchange, since May 2023. Mr. Wang obtained a bachelor's degree in finance, through distance learning, from Dongbei University of Finance & Economics in July 2021. The Board further announces that Mr. Hu Xiongjie ("Mr. Hu") has resigned as an executive Director and ceased to be the chairman of Nomination Committee and a member of Remuneration Committee with effect from 13 July 2023 as he would like to devote more time to his personal commitments. The Board further announces that Mr. Lam Wing Hung ceased to be the Authorised Representative with effect from 13 July 2023.