The board of directors of Renaissance Asia Silk Road Group Limited announced that: Mr. Cai Jianhua (Mr. Cai) has resigned as an independent non-executive director of the company due to other work engagement with effect from the conclusion of the Board meeting held on 4 February 2022. Upon his resignation, Mr. Cai has also ceased to be a member and chairman of the audit committee of the Company ("Audit Committee"), and a member of the Company's remuneration committee, nomination committee (respectively "Remuneration Committee" and "Nomination Committee") and other Board committee, if any; and Mr. Yan Xiaotian ("Mr. Yan") has resigned as an INED due to other work engagement with effect from the conclusion of the Board meeting held on 4 February 2022. Upon his resignation, Mr. Yan has also ceased to be a member and chairman of the Remuneration Committee, and a member of the Audit Committee, Nomination Committee and other Board committee, if any.

The Board announced that: Mr. Au-Yong Shong Samuel ("Mr. Au-Yong") has been appointed as an INED with effect from the conclusion of the Board meeting held on 4 February 2022. Upon his appointment, Mr. Au-Yong has also been appointed as a member and chairman of the Audit Committee, and a member of the Remuneration Committee and Nomination Committee; and Mr. Tse Sze Pan ("Mr. Tse") has been appointed as an INED with effect from the conclusion of the Board meeting held on 4 February 2022. Upon his appointment, Mr. Tse has also been appointed as a member and chairman of the Remuneration Committee, and a member of the Audit Committee and Nomination Committee.

Mr. Au-Yong Shong Samuel is currently a licensed responsible officer ("RO") under the Securities and Futures Ordinance ("SFO") to carry out Type 6 regulated activities in Upbest Securities Company Limited and Upbest Assets Management Limited (both are the wholly-owned subsidiaries of Upbest Group Limited, a company listed on the main board of the Stock Exchange. Mr. Tse Sze Pan has extensive senior management experiences in asset management and securities brokerage. Mr. Tse served as the wealth management manager of The Hongkong and Shanghai Banking Corporation Limited.

He is currently the executive director, chief executive officer and RO under the SFO to carry out Type 1, 4 and 9 regulated activities in Target Capital Management Limited (a wholly-owned subsidiary of Bison Finance Group Limited.