The board of directors of Li Bao Ge Group Limited announced that with effect from 2 November 2023: Mr. Chan Chun Kit resigned as the chief executive officer of the Company. Mr. Liang Naiming (Mr. Liang) has been appointed as Chief Executive Officer. For the biographical details of Mr. Liang whom has been appointed as an executive Director on 23 June 2023, please refer to the announcement of the Company dated 23 June 2023 in relation to his appointment.

Mr. Liang has executed a supplemental service contract with the Company pursuant to which (i) he has been appointed as the Chairman, the chairman of the Nomination Committee, a member of the Remuneration Committee, and the Chief Executive Officer; and (ii) his director's emolument has been increased to HKD 2,243,520 per annum, which is determined by the Board based on the recommendation of the Remuneration Committee in view of his duties and responsibilities in his new positions and with reference to Mr. Chan Chun Kit's remuneration which was the same amount as when he was holding the positions of executive Director, the Chairman, the Authorised Representative, the chairman of the Nomination Committee, a member of the Remuneration Committee and the CEO.