The board of directors of China E-Information Technology Group Limited announced that Ms. Zhu Ziyuan and Mr. Loo Chung Keung Steve resigned as executive Director and an executive Director of the Company with effect from 19 May 2022 and 20 May 2022, respectively. In Ms. Zhu's resignation letter, other than expressing reservation of her right to claim against the Company for director's fee, compensation or damages for loss of office, other employment related payments, debts and other payments arising during her office as director, she did not
specify any reason for her resignation and did not specify whether there is any disagreement with the Board and whether there is any matters that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Ms. Zhu's resignation letter was tendered on her own accord. In Mr. Loo's resignation letter, Mr. Loo stated that he disagreed with a resolution of the Board that he considered effectively took away his duties as an executive Director and the CEO of the Company, and that the decision of the Board was groundless and taken at a time when he was "pursuing the recovery of long overdue receivables, business development for resumption in trading of the Company's shares and furnishing financial results and engage audit on the Company 2021 financial accounts". He did not specify that there were any matters that needed to be brought to the attention of the shareholders of the Company and the Stock Exchange. The Board would like to clarify that the Board did not resolve to restrict his duties as a Director or CEO but did resolve to request Mr. Loo to report his duties to the Board before taking any significant business decision on behalf of the Company in the People's Republic of China. The Board considers Mr. Loo's disagreement with the Board is justified. In his resignation letter, Mr. Loo reserved his right to claim against the Company for director's fee, compensation or damages for loss of office, other employment related payments, debts and other payments arising during his office as director. Mr. Loo's resignation letter was tendered on his own accord. Following the resignation of Mr. Loo, who was also the authorised representatives, the compliance officer and the chairman of the remuneration committee of the Board (the "Remuneration Committee"), the Board resolved to appoint Mr. Lin Ruiping, the chairman of the Board and an executive Director, as the authorised representatives, the compliance officer and the chairman of the Remuneration Committee with effect from 20 May 2022.