The board (Board) of directors of Goldstone Capital Group Limited announced that with effect from 11 October 2022: Mr. Lee Hung Yuen (Mr. Lee) resigned as a non-executive Director; Mr. Xu Yanfa (Mr. Xu) resigned as an independent non-executive Director, the chairman (Chairman) of the Board, the chairman of the nomination committee of the Board (the "Nomination Committee"), and a member of each of the audit committee of the Board (the Audit Committee") and the remuneration committee of the Board (the "Remuneration Committee"); and (3) Ms. Yan Yan ("Ms. Yan") resigned as an independent non-executive Director, the chairman of the Remuneration Committee, and a member of each of the Audit Committee and Nomination Committee. The resignation of Mr. Lee, Mr. Xu and Ms. Yan was due to their other personal and business commitments, which require more of their time and dedication. Each of Mr. Lee, Mr. Xu and Ms. Yan has confirmed that he/she has no disagreement with the Board and there are no matters relating to his/her resignation that needs to be brought to the attention of the shareholders of the Company (the "Shareholders").

The Board would like to express its sincere gratitude to Mr. Lee, Mr. Xu and Ms. Yan for their invaluable contribution to the Company during their tenure of services. The Board announced that with effect from 11 October 2022, Mr. Huang Bin ("Mr. Huang") has been appointed as a non-executive Director, the Chairman of the Board, the chairman of the Nomination Committee, and a member of the Remuneration Committee. The biography details of Mr. Huang are as follows: Mr. Huang, aged 57, has extensive professional experience in fund and asset management as well as investment banking and direct investments.

Mr. Huang previously joined CITIC Securities and established CITIC Merchant Enterprise through cooperation, which is driven by specific projects and supported by market-oriented operation to identify a unique business model that integrates investment businesses with comprehensive financing services, thereby providing international corporate clients with comprehensive solutions. After years of experience in working abroad and as a visiting scholar, such as Crédit Agricole Corporate and Investment Bank in France, Yaxin Finance in Hong Kong and subsidiaries of Scoita Capital in Canada, Mr. Huang joined the Chinese General Chamber of Commerce and served as director. Meanwhile he served as executive vice chairman of the GBA Entrepreneurs Union and in charge of technology and financial sector as well.

From 19 March 2020 to 2 December 2021, Mr. Huang was the chairman and a non-executive director of Lamtex Holdings Limited (in liquidation) (Lamtex), a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (Stock Exchange). From 3 September 2019 to 16 October 2020, Mr. Huang was an executive director of GTI Holdings Limited (in liquidation) ("GTI"), a company listed on the Main Board of the Stock Exchange (stock code: 3344). Since January 2022, Mr. Huang has held the position as the co-chairman (as chairman from January 2022 to February 2022) and a non-executive director of China New Economy Fund Limited, a company listed on the Main Board of the Stock Exchange.

Since February 2022, Mr. Huang has held the position as the co-chairman and a non-executive director of China United Venture Investment Limited (formerly known as Glory Mark Hi-Tech (Holdings) Limited), a company listed on GEM of the Stock Exchange. Since August 2022, he has also held the position as a non-executive director of Ban Loong Holdings Limited, a company listed on the Main Board of the Stock Exchange. Mr. Huang was founder of CITIC Merchant Enterprise Management Limited and severed as general manager, simultaneously, currently he is honored chairman of the company.

Mr. Huang is currently a director of CITIC International Assets Management Limited. Mr. Huang is also a founder of Goldstone Investment Management Limited (formally known as Future Great Limited), a private company principally engaged in investment management. Mr. Huang graduated from the Department of Naval Architecture and Marine Engineering of Harbin Engineering University, and subsequently received the training from the European Economic Community Visiting Scholars Program and the business management training from Northwestern University in the United States of America.