The board of directors of Jiu Rong Holdings Limited announced that: Mr. WONG Chi Kin has been appointed as an independent non-executive director of the Company, the chairman of the Audit Committee, a member of the Remuneration Committee and a member of the Nomination committee with effect from 24 August 2023. Mr. HUA Nengdong has been appointed as an independent non-executive director of the Company, the chairman of the Nomination Committee, a member of the Remuneration Committee and a member of the Audit Committee with effect from 24 August 2023. Mr. CHEN Zheng has been appointed as the chairman of the Remuneration Committee, ceased to be the chairman of the Nomination Committee, whilst remaining as a member of the Nomination Committee of the Company with effect from 24 August 2023.

Mr. Wong Chi Kin ("Mr. Wong"), aged 49, has over 25 years of solid accounting, banking and corporate finance experience with reputable commercial banks and leading investment banks (including ING Bank, UBS and Morgan Stanley) as well as various companies in Hong Kong and the UK. Mr. Wong was appointed as deputy chief executive officer of Orient Victory Smart Urban Services Holding Limited ("Orient Victory"; formerly "Orient Victory Travel Group Company Limited") in July 2023. He was the chief financial officer of Orient Victory during the period from October 2014 to October 2018.

Prior to joining Orient Victory, Mr. Wong held various management positions at China Qinfa Group Limited, including (i) deputy chief financial officer (from April 2011 to September 2011); (ii) chief financial officer (from September 2011 to October 2014); and (iii) company secretary and authorized representative (from July 2011 to August 2014). The issued shares of all the above-mentioned companies are listed on the Stock Exchange. Mr. Wong (i) was appointed as an independent non-executive Director and was re-designated to a non-executive Director of Tsui Wah Holdings Limited in November 2012 and in November 2016 respectively; (ii) was appointed as a non-executive director of Asiaray Media Group Limited in March 2017, mainly responsible for strategic mergers and acquisitions as well as capital market transactions and retired from such position in June 2023; and (iii) has been appointed as an independent non-executive director of each of Forgame Holdings Limited since May 2020 and Modern Chinese Medicine Group Co.

Ltd. since April 2023. For the period from July 2018 to July 2019, given Mr. Wong's professional background and his areas of expertise, he was appointed as (i) the chairman of the independent board committee of Shenzhou Space Park Group Limited ("Shenzhou Space") whose shares were listed on the Stock Exchange and delisted in December 2019 under Rule 6.01A of the Listing Rules, and an independent non-executive director. Mr. Wong played curial roles in delivering independent advice on listing resumption proposal and corporate governance issues as well as providing guidance in the investigation of certain transactions throughout his appointment in Shenzhou Space and (ii) a member of the independent investigation committee of Mayer Holdings Limited whose shares are listed on the Stock Exchange and an independent non-executive director, for the period from November 2021 to February 2022.

Mr. Wong obtained a Bachelor of Science (Honours) degree in Finance from the City University of Hong Kong in December 1996, a Certificate in Consecutive Interpretation: Putonghua/English from The School of Professional and Continuing Education of The University of Hong Kong in March 2001, a Master's degree in Practicing Accounting from the Monash University, Australia in November 2001, and a Master of Business Administration degree (Executive MBA Programme) from The Chinese University of Hong Kong in December 2010 (Dean's list: 2009/2010). Mr. Hua Nengdong ("Mr. Hua"), aged 58, graduated from the Department of Electrical Engineering of Shanghai Electric Power University (formerly Shanghai Electric Power Institute). Mr. Hua has rich professional knowledge in the power industry, high professional quality and practical experience in power electronics, power automation and GCPC (Grid Information Physics Integration System).

He participated in the introduction of key technologies and complete systems for many major projects of power grid construction. Mr. Hua served as vice president of Zhejiang Dahua Technology Co. Ltd. from 2007 to 2010, and now serves as chairman of Zhejiang Xingwei Technology Co.

Ltd. and director of Beijing Aerospace Linxiang Science and Technology Co. Ltd.