Risecomm : APPOINTMENT OF EXECUTIVE DIRECTOR

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RISECOMM GROUP HOLDINGS LIMITED

瑞 斯 康 集 團 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 1679)

APPOINTMENT OF EXECUTIVE DIRECTOR

APPOINTMENT OF EXECUTIVE DIRECTOR

The board (the ''Board'') of directors (the ''Directors'' and each, a ''Director'') of Risecomm Group Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') is pleased to announce that Mr. Jiang Feng (''Mr. Jiang'') has been appointed as an executive Director with effect from 19 April 2021.

The biographical details of Mr. Jiang are set out as follows:

Mr. Jiang, aged 47, has extensive experience in sales and sales management. He has over 25 years of working experience in petroleum and petrochemical industries. He obtained a bachelor's degree in Exploration Geophysics from Jianghan Petroleum Institute* (江漢石油 學院) (currently known as Yangtze University (長江大學)) in June 1994 and obtained a master's degree of Business Administration from Communication University of China (中國 傳媒大學) in July 2014.

Mr. Jiang has entered into a service contract (the ''Service Contract'') with the Company for an initial term of three years from 19 April 2021, and the term of the Service Contract shall be renewed and extended automatically for successive terms of one year upon expiry of the then current term, until terminated either by Mr. Jiang by giving not less than three months' written notice expiring at the end of the initial term of his appointment or any time thereafter to the Company, or by the Company by giving not less than three months' written notice expiring at the first anniversary of the initial term of his appointment or any time thereafter to him. Mr. Jiang is subject to retirement by rotation and re-election in accordance with the Rules Governing the Listing of Securities on the Stock Exchange (the ''Listing Rules'') and the articles of association of the Company. Mr. Jiang is entitled to receive a director's fee of HK$10,000 per month. A discretionary bonus equals to one month's salary is payable to Mr. Jiang in the month preceding the Chinese New Year. In every financial year of the Company, the Board may at its discretion decide to distribute a special annual bonus to Mr. Jiang. The timing, terms and amount of such distribution shall all be determined at the discretion of the Board. If the Board decides to distribute such special annual bonus, the amount shall be calculated based on a percentage of net profit stated in

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the Group's latest audited consolidated account. The above ''net profit'' represents the Group's net profit less taxation and non-recurring expenses for the financial year (the ''Consolidated Net Profit''). The total amount of special annual bonus payable to all of the Directors in each financial year of the Company shall not exceed 10% of the Consolidated Net Profit of the previous financial year of the Company. The above emoluments of Mr. Jiang have been determined with reference to his duties and responsibilities as well as the prevailing market conditions and are subject to revision in the future by the decision of the Board based on the recommendation of the remuneration committee of the Company. Mr. Jiang is also the sales director of Beijing Hongteng Weitong Technology Co., Ltd (北京鴻騰 偉通科技有限公司), which is one of the subsidiaries of the Company. Save as disclosed above, he did not hold other positions in the Company or other members of the Group.

Save as disclosed above, as at the date of this announcement, Mr. Jiang (i) has not held any other directorships in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years, (ii) does not have any other major appointments and professional qualifications, (iii) does not have any relationship with any Directors, senior management, substantial or controlling shareholders (having the meaning ascribed to it in the Listing Rules) of the Company, and (iv) is not interested in any shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

Save as disclosed above, there is no further information required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, and there are no other matters relating to the appointment of Mr. Jiang that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to express its warm welcome to Mr. Jiang in joining the Board.

By Order of the Board

Risecomm Group Holdings Limited

Cheung Fan

Chairman and Non-executive Director

Hong Kong, 19 April 2021

As at the date of this announcement, the executive Directors are Mr. Yue Jingxing, Mr. Lau Wai Leung, Alfred and Mr. Jiang Feng, the non-executive Directors are Mr. Wang Shiguang, Mr. Cheung Fan and Ms. Pan Hong and the independent non-executive Directors are Ms. Lo Wan Man, Mr. Ong King Keung and Mr. Zou Heqiang.

* For identification purposes only

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