The board of directors of CROSSTEC Group Holdings Limited announced that with effect from 20 January 2023: Ms. Lee Kwai Sheung (‘Ms. Lee') has been appointed as an independent non-executive Director and a member of each of the audit committee of the Company (the ‘Audit Committee'), the nomination committee of the Company (the ‘Nomination Committee'), the remuneration committee of the Company (the ‘Remuneration Committee') and the risk management committee of the Company (the ‘Risk Management Committee'); Ms. Wang Qin (‘Ms. Wang') has been appointed as an independent non-executive Director and a member of each of the Audit Committee, the Nomination Committee, the Remuneration Committee and the Risk Management Committee; and Mr. Tsang Ho Yin (‘Mr. Tsang'), an independent non-executive Director, has been re-designated as a non-executive Director and has ceased to be a member of the Audit Committee. Mr. Tsang remains as a member of each of the Nomination Committee, the Remuneration Committee and the Risk Management Committee. Ms. Lee Kwai Sheung (former name: Lee Yin Sheung), aged 44, has more than 20 years of working experience in accounting.

Ms. Lee is a member of the Association of Chartered Certified Accountants. She holds a bachelor's degree of Arts in Accountancy from the University of Bolton. Ms. Lee has signed a letter of appointment issued by the Company for the appointment as an independent non-executive Director for a term commencing from 20 January 2023 to 8 September 2023 which may be terminated by not less than three months' notice served by either party on the other.

Ms. Wang Qin, aged 37, has more than 10 years of human resources and/or administrative management experience. She holds a bachelor's degree in administrative management from China Central Radio and TV University (now known as the Open University of China). Ms. Wang has signed a letter of appointment issued by the Company for the appointment as an independent non-executive Director for a term commencing from 20 January 2023 to 8 September 2023 which may be terminated by not less than three months' notice served by either party on the other.

Mr. Tsang Ho Yin, aged 37, has been an independent non-executive Director from 28 September 2021 to 19 January 2023. He is currently a member of each of the Nomination Committee, the Remuneration Committee and the Risk Management Committee. He is responsible for supervising, and providing independent judgment to, the Board.

Mr. Tsang is a practising solicitor in Hong Kong. Mr. Tsang is currently a partner of Stevenson, Wong & Co., specialising in corporate finance and commercial law. Mr. Tsang has been a non-executive director of China Regenerative Medicine International Limited (a company whose shares are listed on GEM of the Stock Exchange, stock code: 8158) since January 2020, and an independent non-executive director of Sterling Group Holdings Limited (a company whose shares are listed on the Main Board of the Stock Exchange, stock code: 1825) since September 2021.

Mr. Tsang was an independent non-executive director of Inno-Tech Holdings Limited (‘Inno-Tech') (a company whose shares were listed on GEM of the Stock Exchange and delisted on 13 July 2021, stock code: 8202) from June 2019 to June 2020. Mr. Tsang obtained a bachelor degree in laws and a bachelor degree in commerce in 2008 and subsequently a master degree in laws in 2010 from the University of Melbourne, Australia. He also obtained the postgraduate certificate in laws from the City University of Hong Kong in 2011.

Mr. Tsang was admitted as a solicitor in Australia in 2012 and in Hong Kong in 2013 respectively. Mr. Tsang has signed a letter of appointment issued by the Company for the appointment as a non-executive Director for a term commencing from 20 January 2023 to 8 September 2023 which may be terminated by not less than three months' notice served by either party on the other.