The board of directors of Changmao Biochemical Engineering Company Limited announced that, having taken into account the Board Diversity Policy of the Company, the views, skills and experience of Ms. Cheng Mun Wah and the contribution she may bring to the Company, the Nomination Committee of the Company and the Board have considered and approved to appoint Ms. Cheng as an independent non-executive Director for a term from July 1, 2022 until the conclusion of the next following annual general meeting of the Company to be held in 2023. Ms. Cheng Mun Wah, aged 60, has over 25 years of experience in the field of corporate finance and accounting in Hong Kong. Ms. Cheng holds a bachelor's degree of commerce from the University of Alberta in Canada.

Ms. Cheng is currently a managing director of a corporation licensed to carry out type 1 (dealing in securities) and type 6 (advising on corporate finance) regulated activities as defined under the Securities and Futures Ordinance Ms. Cheng is a certified public accountant of The Hong Kong Institute of Certified Public Accountants and a fellow member of The Chartered Association of Certified Accountants. Ms. Cheng has entered into a letter of appointment with the Company. The remuneration payable to Ms. Cheng is determined by the remuneration committee of the Company, with reference to her expected contribution of time, effort and expertise on the Company's matters.

Ms. Cheng is entitled to an annual Director's fee of RMB 80,000 per her term of office. Ms. Cheng has also been appointed as the chairman of the audit committee, and a member of the remuneration committee and the nomination committee of the Company effective from July 1, 2022.