The board of directors of Kingland Group Holdings Limited announced that Mr. Chen Yeung Tak ("Mr. Chen") has tendered his resignation as executive Director with effect from 24 June 2022 in order to devote more time to fulfil his other duties at the Group. The Board announced that Mr. Kwok Shun Tim ("Mr. Kwok") has been appointed as an executive Director and the vice chairman of the Board with effect from 24 June 2022. Mr. Kwok will be mainly responsible for the strategic development and overall management of the Group.

Mr. Kwok Shun Tim, aged 47, is the Founder and Chief Executive Officer of Gransing Financial Group Limited and is responsible for overall corporate strategy and business development. Mr. Kwok has gained solid experiences in the field of securities and investment in the past and he played different important roles for the projects in the primary market of Hong Kong and the mergers and acquisitions exercises within the region. Mr. Kwok had served at various established enterprises including China Aerospace International Holdings Limited, Tianjin Jinran Public Utilities Company Limited and China CBM Group Company Limited.

Mr. Kwok obtained his Bachelor's degree in Business Administration in accounting from the Hong Kong University of Science and Technology. Mr. Kwok further obtained a Master of Science degree in China Business Studies from the Hong Kong Polytechnic University and a Master of Laws degree in International Economic Law from the City University of Hong Kong. Mr. Kwok is an associate of Hong Kong Institute of Certified Public Accountants, a fellow member of the Hong Kong Securities and Investment Institute, and a fellow member of the Association of Chartered Certified Accountants.

Mr. Kwok is a member of the Correctional Services Children's Education Trust Investment Advisory Board, the former president of Merchants Support For Rehabilitated Offenders Committee Limited, vice chairperson of Yan Oi Tong the 37th Term, 38th Term, 39th Term and 40th Term board of directors, board of directors of Yan Oi Tong the 33th Term, 34th Term, 35th Term and 36th Term, vice president of the General Association of Xiamen (Hong Kong) Limited, and vice chairperson of Zhaoqing Overseas Fellowship. Mr. Kwok entered into a service agreement with the Company on 24 June 2022 for a term of three years commencing from 24 June 2022. Mr. Kwok is subject to retirement and re- election at the next following annual general meeting of the Company after his appointment and thereafter subject to retirement by rotation and re-election at least once in every three years in accordance with the articles of association of the Company.

Mr. Kwok is entitled to a director's annual remuneration of HKD 1.2 million which is determined by the Board with reference to the recommendation of the remuneration committee of the Company based on his qualifications, experience and the prevailing market conditions.