Renaissance Asia Silk Road Group Limited announces that Mr. Au-Yong Shong Samuel ("Mr. Au-Yong") has resigned as an independent non-executive Director of the Company ("INED") and has been redesignated as a business president of the Company with effect from the conclusion of the Board meeting held on 3 August 2022. Upon his resignation as an INED, Mr. Au-Yong has also ceased to be a member and the chairman of the Company's audit committee ("Audit Committee"), and a member of the Company's nomination committee and remuneration committee (respectively "Nomination Committee" and "Remuneration Committee") and other Board committee, if any. The Board announce that Dr. Liu Ka Ying Rebecca ("Dr. Liu") has been appointed as an INED with effect from the conclusion of the Board meeting held on 3 August 2022.

Upon her appointment, Dr. Liu has also been appointed as a member and the chairman of the Audit Committee, and a member of the Nomination Committee and the Remuneration Committee. Dr. Liu Ka Ying Rebecca, aged 52, possesses experience in management, finance, investment, as well as accounting and financial management. Dr. Liu has been appointed (i) as the chief executive officer of AllPanther Asset Management Limited since January 2007; (ii) as an independent non-executive director of Logan Group Company Limited (formerly known as Logan Property Holdings Company Limited, a company listed on the Stock Exchange since November 2013; (iii) as a senior consultant and chief representative in Thailand of Wai Hung Group Holdings Limited (a company listed on the Stock Exchange (stock code: 3321)) since December 2020; (iv) as an independent non-executive director of SITC International Holdings Company Limited (a company listed on the Stock Exchange since December 2020; and (v) by Fortune (Shanghai) Limited since October 2013 and currently serves as a senior vice president.

Dr. Liu served as the general manager for the Asia and China region of The PRG-Schultz International Inc., (a company listed on NASDAQ) from June 1996 to March 2002. Dr. Liu is a member of the American Institute of Certified Public Accountants, Illinois CPA Society of the United States and Hong Kong Institute of Certified Public Accountants. She obtained a double bachelor's degree with honours in Business Administrative Studies (major in management and in accounting) from York University, Canada in 1992 and 1994, respectively, and obtained a doctoral degree in business administration from Victoria University, Switzerland in 2011.

Dr. Liu is also a member of The Hong Kong Institute of Bankers, Association of Women Accountants (Hong Kong) Limited, and Hong Kong Professionals and Senior Executives Association. She was also a former member of the 10th and 11th Jilin Provincial Committee of the Chinese People's Political Consultative Conference.