The board of directors of Richly Field China Development Limited announced that, stemming from human resources structure restructuring exercise of the Company, the Company has terminated the employment contract with Mr. Ho Kin Cheong Kelvin (Mr. Ho) with effect from 8 May 2020. Consequential upon such termination, Mr. Ho ceases to be (i) the chief financial officer of the Company; (ii) the company secretary of the Company; (iii) the authorised representative of the Company under rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited; and (iv) the authorised representative of the Company for accepting service of process and notices on the Company's behalf in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong). Mr. Fung Ka Lun (Mr. Fung) has been appointed as (i) the chief financial officer of the Company; (ii) the company secretary of the Company; and (iii) the Authorised Representatives of the Company with effect from 8 May 2020.

Mr. Fung is not an employee of the Company but has been appointed as the chief financial officer of the Company, company secretary of the Company and the Authorised Representatives of the Company pursuant to the Company's engagement of an external service provider to provide financial management services relevant to a chief financial officer and company secretarial services. Mr. Fung meets the qualification requirements for company secretary under rules 3.28 and 8.17 of the Listing Rules. Mr. Fung, aged 45, has extensive experience in corporate finance, financial management and accounting.

Previously, Mr. Fung worked in the Investment Banking Division of UBS AG, Audit Division of KPMG and was an executive director of a Hong Kong main board listed company during 2010 to 2013.