Grandshores Technology : APPOINTMENT OF NON-EXECUTIVE DIRECTOR

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Grandshores Technology Group Limited ඪ֦߅ҦණྠϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1647)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of Grandshores Technology Group Limited (the "Company") is pleased to announce that, with effect from 1 March 2021, Ms. Yu Zhuochen ("Ms. Yu") has been appointed as a non-executive Director.

The biographical details of Ms. Yu are set out below:

Ms. Yu, aged 28, is a director of a non-wholly owned subsidiary of the Company, Zhejiang Taihuotong Cultural Communication Co., Ltd.*€एϪ੭஬ஷ˖ʷෂᅧϞࠢʮ̡. Since March 2018, Ms. Yu has been an investment manager of Hangzhou Tunlan Investment Management Co., Ltd.*€؄ψ⭞ᘜҳ༟၍ଣϞࠢʮ̡ ("Hangzhou Tunlan"). Prior to joining Hangzhou Tunlan, Ms. Yu has been an account manager of Google Advertising (Shanghai) Co., Ltd.*€ԋဂᄿѓ€ɪ ऎϞࠢʮ̡from August 2017 to March 2018. Ms. Yu holds a bachelor degree in public utilities management from Shantou University and a master degree in knowledge management from Nanyang Technological University.

Mr. Yao Yongjie, the chairman of the Board and an executive Director and owns 51% equity interest in the controlling shareholder of the Company, owns approximately 49.04% equity interest in Hangzhou Tunlan, and is a partner and the chairman of Hangzhou Tunlan.

Ms. Yu has entered into a letter of appointment with the Company for a term of three years. She shall hold office until the first general meeting of the Company after her appointment and be subject to re-election at such meeting in accordance with the articles of association of the Company and the Listing Rules. Ms. Yu will be entitled to a director's fee of HK$200,000 per annum which is determined with reference to her experience, duties, responsibilities within the Company and the prevailing market conditions. Her remuneration has been approved by the remuneration committee of the Company and the Board.

Save as disclosed above, Ms. Yu has confirmed that she (i) does not hold any directorship in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years or any other position with the Company and other members of the Group or other major appointments and professional qualifications; (ii) does not have anyrelationship with other Directors, senior management, substantial or controlling shareholders of the Company and have no interests in the shares of the Company which are required to be disclosed pursuant to Part XV of the Securities and Futures Ordinance; and (iii) as at the date of this announcement, was not aware of any other matters that need to be brought to the attention of the shareholders of the Company nor was there any information to be disclosed to the Company pursuant to any of the requirements under Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board would like to express its warmest welcome to Ms. Yu for joining the Board.

By order of the Board

Grandshores Technology Group Limited

Yao Yongjie

Chairman and Executive Director

Hong Kong, 1 March 2021

As at the date of this announcement, the Board comprises Mr. Yao Yongjie as an executive Director; Mr. Chua Seng Hai, Ms. Lu Xuwen and Ms. Yu Zhuochen as non-executive Directors; and Mr. Chu Chung Yue, Howard, Dr. Zhang Weining and Mr. Yu Wenzhuo as independent non-executive Directors.

* For identification purpose only