The board of directors of Virscend Education Company Limited announced that Ms. Ho Yin Kwan (Ms. Ho) has resigned as the company secretary of the Company and ceased to act as an agent to accept services of process and notices on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance and Rule 19.05(2) of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited, with effect from 31 March 2023. Ms. Ho has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange. Following the resignation of Ms. Ho, the Board announces the appointment of Mr. Deng Bangkai ("Mr. Deng"), who meets the requirements under Rules 3.28 and 8.17 of the Listing Rules, as the Company Secretary, and Mr. Chan Yik Pun (Mr. Chan) as the Process Agent, all with effect from 31 March 2023.

Mr. Deng, aged 41, was appointed as an executive director and chief operating officer of the Company on 15 November 2018. Mr. Deng is currently responsible for the daily operations, business development, external investment, financing, M&A, and investor relations of the Company and its subsidiaries. Mr. Deng has more than 17 years of professional experience in accounting, financial management, corporate governance, and capital market transactions.

Mr. Deng started his career in Ernst & Young Hua Ming LLP Shenzhen Office in August 2005 and worked in Ernst & Young UK from September 2010 to March 2012. In July 2017, Mr. Deng was appointed as Partner of Ernst & Young Shenzhen Office. Mr. Deng obtained his bachelor degree in computer science from Shanghai University of Electric Power in the PRC in June 2003 and his master of science degree with commendation in management science from University of Hertfordshire in Great Britain in October 2004.

Mr. Deng is a member of the Hong Kong Institute of Certified Public Accountants and a member of The Chinese Institute of Certified Public Accountants.