Powerlong Commercial Management Holdings Limited announces that due to other business commitments, Mr. Zhang Yunfeng ("Mr. Zhang") has been re-designated from the position of executive Director to non-executive
Director with effect from 29 March 2023. Mr. Zhang, aged 46, joined the Group as the deputy general manager in March 2015 and has held senior positions in various business sectors of the Group, including the financial sector and operation management sector. Mr. Zhang was appointed as an executive Director and chief executive officer of the Company on 8 August 2019. Due to work allocation, Mr. Zhang was re-designated from the position of chief executive officer to CFO on 1 June 2020, and was primarily responsible for the financial and cost management, intelligent commerce research, digital construction and internal risk control of the Group, as well as conducting operational and forecast analysis. He was further re-designated as a non-executive Director and resigned as CFO with effect from 29 March 2023 in light of his other business commitments. Mr. Zhang obtained a bachelor's degree in management and a master's degree in accounting from Nanjing University in the PRC in July 2000 and February 2007, respectively. He obtained the qualification of intermediate accountant granted by the Ministry of Finance (the "MOF") in the PRC in May 2005. He was also employed as a part-time tutor for postgraduate students of master's degree in business administration by Nanjing University, for a period from December 2019 to December 2022. The Board also announced that Ms. Jin Hong ("Ms. Jin") has tendered her resignation as a joint company secretary of the Company (the "Joint Company Secretary") with effect from 29 March 2023 to pursue other business opportunities. Ms. Jin has confirmed that she has no disagreement with the Board and there are no matters in relation to her resignation that need to be brought to the attention of the Shareholders and the Stock Exchange. Following the resignation of Ms. Jin, the Board announce that Ms. Zhang Yiting ("Ms. Zhang") has been appointed as a Joint Company Secretary with effect from 29 March 2023. Ms. Leung Wai Yan ("Ms. Leung") will continue to serve as the other Joint Company Secretary. Ms. Zhang, aged 34, re-joined the Group in February 2023 as a capital director. She is responsible for the company secretarial, compliance and investor relations functions of the Group. Before re-joining the Group, she worked as a senior capital manager of the Group from February 2020 to September 2022. From September 2022 to December 2022, Ms. Zhang worked as an information disclosure manager of WEILONG Delicious Global Holdings Ltd, whose shares are listed on the Main Board of the Stock Exchange (stock code: 9985.HK). From February 2011 to February 2020, Ms. Zhang worked as the accounting supervisor and the investment manager of Powerlong Real Estate. Ms. Zhang obtained a bachelor's degree in management from Jiang Xi Agricultural University in 2010, and she also obtained the qualification of intermediate accountant granted by the MOF in the PRC in 2015.