China Conch Venture Holdings Limited (the Company, together with its subsidiaries, the Group) announced that, Mr. LAU Chi Wah, Alex (Mr. Lau) will retire as an independent non-executive Director at the forthcoming annual general meeting of the Company to be held on, 20 June 2023 (the 2023 AGM). Mr. Lau was first appointed as an independent non- executive Director in December 2013, after having served on the Board for over nine years, he has decided that he will not offer himself for re-election at the 2023 AGM due to his decision to devote more time to his personal endeavors and to make way for new independent non-executive Director(s) who would bring fresh ideas to the Board. Accordingly, Mr. Lau will cease to be an independent non-executive Director upon the conclusion of the 2023 AGM.

Following Mr. Lau's retirement, he will also cease to be the chairman of the remuneration and nomination committee of the Board (the Remuneration and Nomination Committee) and a member of the audit committee of the Board (the Audit Committee). With effect from the close of the 2023 AGM, Mr. CHAN Kai Wing, an independent non- executive Director, will be re-designated from a member of the Remuneration and Nomination Committee to the chairman of the Remuneration and Nomination Committee.