Sheung Moon Holdings Limited announces that with effect from 19 October 2023, Mr. Tang Sze Wo has tendered his resignation as an executive Director, a chairman of the Company, an authorised representative of the Company under Rule 5.24 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited and the authorised representative of the Company for accepting service of process and notices on behalf of the Company in Hong Kong as required under Rule 24.05(2) of the GEM Listing Rules and the Companies Ordinance, Chapter 622 of the Laws of Hong Kong, and the compliance officer under Rule 5.19 of the GEM Listing Rules in order to devote more time to his personal affairs and other business commitments. In recognition of Mr. Tang's invaluable contributions and devotion to the Company during his tenure of office, Mr. Tang has been appointed as the honorary chairman of the Company with effect from 19 October 2023. The Board announced that Ms. Shen Taiju has been appointed as an executive Director, the Chairman, the Authorised Representative, the Process
Agent and the Compliance Officer with effect from 19 October 2023. Ms. Shen, aged 41, has experience in business management, development, business operation in food and beverages industry. From August 2018 to September 2020, Ms. Shen was a business director of Hongganguo Information Tech Co., Limited. On 6 January 2022, she was appointed as the executive director of Dragon King Group Holdings Limited, the shares of which are listed on GEM of the Stock Exchange and served as the chairman of the board. On 12 October 2023, Ms. Shen was re-designated as a non-executive director of Dragon King Group Holdings Limited and has ceased to be the chairman of the board. Ms. Shen entered into a service agreement with the Company for a term of 2 years, which may be terminated by either party giving not less than three months' written notice. The appointment of Ms. Shen is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company. Pursuant to the Service Agreement, Ms. Shen is entitled to receive a remuneration of HKD 100,000 per month, which is determined by the Board based on the recommendation of the remuneration committee of the Board after considering a range of factors including salaries paid by comparable companies, time commitment, duties and responsibilities of Ms. Shen, the Company's performance and profitability and prevailing market benchmark. Her future remuneration will be subject to review by the remuneration committee of the Company from time to time pursuant to the power conferred on it by the Board. The Board announces that following the resignation of Mr. Tang as an executive Director and ceased to act as a member of the risk management committee of the Board. Ms. Shen has been appointment as a member of the risk management committee of the Board with effect from 19 October 2023.