Dr. Tang Dajie (‘‘Dr. Tang’’), aged 51, has been appointed as an independent nonexecutive Director of the Company on 16 July 2019.

Dr. Tang has over 20 years of experience in investment, financing and corporate management. He held various senior positions in different companies, including the Vice President of Shenzhen Capital Group Company Limited, the Deputy General Manager of Shenzhen Airport (Group) Company Limited, the Managing Director of Shenzhen High-tech Investment Group Company Limited, the Manager of the Department of Investment of E Fund Management Company Limited and the Director of China Southern Asset Management. Since October 2015, Dr. Tang has been the chairman and the founding partner of Triwise Capital Management Company Limited.

Dr. Tang also serves as the Vice Chairman of Shenzhen Venture Capital Association, the Executive Vice President of Shenzhen Science and Technology Entrepreneur Promotion Association, Vice President of Shenzhen General Chamber of Commerce and a part-time professor of Southwestern University of Finance and Economics, Shenzhen Audencia Business School, Xidian University and China University of Mining and Technology. Dr. Tang obtained his bachelor’s degree in business management from the Beijing University of Chemical Technology in July 1990, his master’s degree in monetary banking from Xiamen University in July 1995 and his doctorate degree in industrial economics from Jinan University in June 2007.

Dr. Tang has entered into a service contract with the Company for a term of three years from 16 July 2019 to 15 July 2022 (both dates inclusive). He is entitled to an annual remuneration of HK$280,000 which is determined by the Board with reference to his background, qualifications, experience, level of responsibilities undertaken with the Company and prevailing market conditions. Dr. Tang is subject to re-election.

Save as disclosed above, none of the above newly appointed Directors (the ‘‘New Directors’’) has any interest or short position (both within the meaning of Part XV of the Securities and Futures Ordinance (the ‘‘SFO’’)) in the shares, underlying shares or debentures of the Company or any of its associated corporation (as defined under Part XV of the SFO) as at the date of this announcement.

Save as disclosed above, as of the date of this announcement, each of the New Directors (i) does not hold any other positions in the Company or its subsidiaries; (ii) does not have any other relationship with any other Directors, senior management, substantial shareholders or controlling shareholders of the Company; and (iii) has not held any directorships in listed public companies in the last three years. Each of the New Directors confirmed that there is no information which is discloseable nor is/was he/she involved in any of the matters required to be disclosed pursuant to any of the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules and there is no other matter that need to be brought to the attention of the Shareholders in relation to his/her appointment.

The Board would like to take this opportunity to welcome Ms. Ng, Mr. Wong and Dr. Tang in taking up their respective new roles in the Company.