The board of directors of Life Concepts Holdings Limited announce that with effect from 5 January 2024, Mr. Yu Quansheng ("Mr. Yu") has been appointed as an executive Director of the Company. Mr. Yu Quansheng aged 46, has more than 10 years of experience in corporate management and strategic management. From January 2008 to December
2017, Mr. Yu served as the general manager of Guangdong Zhongming Technology Co. Ltd. He is currently a chief executive officer of Anhui Zhongxian Smart Robot Co. Ltd. responsible for the strategic planning and decision making. Mr. Yu is currently pursuing his master's degree in business administration from the Brest Business School. Mr. Yu has entered into a letter of appointment with the Company in respect of his appointment as an executive Director for a term of three years. Mr. Yu is subject to
retirement by rotation and re-election at next following annual general meeting in accordance with the bye-laws of the Company. Under the said letter of appointment,
Mr. Yu is entitled to a director's fee of HKD 20,000 per month. The aforementioned director's fee was determined by the Board with reference to Mr. Yu's relevant
experience and qualifications, his duties and responsibilities in the Company as well as the prevailing market condition.