The board (the "Board") of directors (the "Director(s)") of Kelfred Holdings Limited (the "Company") announced that the following new Directors have been appointed to the Board with effect from 16 June 2021. Mr. Zuo Zhengsan ("Mr. Zuo") has been appointed as an executive Director with effect from 16 June 2021. Mr. Zuo joined the Group as a chief executive officer of Tokyo Universe Technology Limited, a wholly-owned subsidiary of the Company on 1 January 2021, responsible for developing the new energy vehicles business. Mr. Zhang Li ("Mr. Zhang") has been appointed as a non-executive Director with effect from 16 June 2021. Mr. Zhang was appointed as a non-executive director, chairman and chief executive officer of Madison Holdings Group Limited.