The board (the "Board") of directors (the "Directors") of Kong Sun Holdings Limited (the "Company") announced that Mr. Xu Xiang ("Mr. Xu") has tendered his resignation as an independent non-executive Director, with effect from 11 June 2024, in pursuit of his personal career development. The Board also announced that Mr. Tang Jian ("Mr. Tang") has been appointed as an independent non-executive Director with effect from 11 June 2024. Mr. Tang, aged 64, has over 35 years of commercial experience.

Mr. Tang obtained a master's degree in economics from Dongbei University of Finance and Economics and holds the title of senior economist. Mr. Tang served as a non-executive director of the Postal Savings Bank of China from January 2013 to January 2020. He previously served as Deputy Director of the General Business Division and Deputy Director of the Management Division II of the Foreign Financial Institution Department under the People's Bank of China (the "PBOC"), Assistant Consultant and Deputy Director of the Policy Bank Regulatory Division, Deputy Director of the Policy Bank Regulatory Division I, Deputy Director and Consultant of the Postal Savings Institution Supervision Division of the Bank Regulatory Department I of the PBOC, Director of the Postal Savings Institution Supervision Division of the Banking Regulatory Department III, Director of the Postal Savings Institution On-site Supervision Division of the Banking Regulatory Department IV, Director of the On-site Supervision Division of the Banking Regulatory Department IV, and Associate Counsel of the Banking Regulatory Department IV of the China Banking Regulatory Commission (now China Banking and Insurance Regulatory Commission), non-executive director of the Postal Savings Bank of China, etc.

Following Mr. Xu's resignation as an independent non-executive Director with effect from 11 June 2024, he ceased to be the chairman of the remuneration committee of the Board (the "Remuneration Committee") and a member of each of the nomination committee of the Board (the "Nomination Committee") and the audit committee of the Board (the "Audit Committee"). Mr. Tang, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee and a member of each of the Nomination Committee and the Audit Committee with effect from 11 June 2024.