China Financial Services Holdings Limited announced that Mr. Zhang Min who is an executive director of the Company has been appointed as the CEO of the Company with effect from 22 November 2022. Mr. Zhang, aged 65, has extensive experience in finance and banking industry, Mr. Zhang was appointed as an non-executive director of the Company on 24 December 2021 and than re-designated as an executive director of the Company on 17 October 2022. Mr. Zhang holds a Bachelor of Philosophy Degree from the Beijing Normal College and a master of Laws Degree from the Renmin University of China.

Since 23 March 2015, he was appointed as independent non-executive director of China Eco-Farming Limited, a company listed on the GEM of The Stock Exchange of Hong Kong Limited. He was an executive director of Value Convergence Holdings Limited, from 25 June 2018 to 2 December 2019. He was appointed as the chief executive officer and an executive director of Macrolink Capital Holdings Limited from 10 August 2016 to 22 August 2018.

He was appointed as a non-executive director of China Fortune Financial Group Limited on 8 December 2010. He was re- designated and appointed as chairman of the Board, executive director and a member of the remuneration committee of the company from 12 April 2011 to 30 June 2014. In addition, he was an independent non-executive director of Silver Base Group Holdings Limited from 28 January 2011 to 1 April 2014.

The aforesaid companies are listed on the Main Board of the Stock Exchange. Mr. Zhang was also the chief marketing officer of the China Cinda Asset Management Co. Ltd. from 28 April 2011 to 31 August 2013 and was the chief executive of China Construction Bank Corporation, Hong Kong Branch, from September 2006 to March 2011 and a director of CCB International (Holdings) Limited and China Construction Bank (Asia) Corporation Limited from August 2006 to March 2011.

Both CCB International (Holdings) Limited and China Construction Bank (Asia) Corporation Limited are wholly-owned subsidiaries of China Construction Bank Corporation, a joint stock company incorporated in the PRC with limited liability, whose issued shares are listed on the main board of the Stock Exchange. He was the president of the Beijing Banking Association from 2003 to 2005 and the Beijing Investment Institution from 2001 to 2006. Mr. Zhang possesses over 20 years' experience in the banking industry through his work with the CCBC Group.

In respect of his directorship of the Company, Mr. Zhang has entered into a service contract with the Company for a term of 1 year which may be terminated by either party giving to the other party one month's prior notice and is subject to retirement by rotation and re-election in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the articles of association of the Company. He is entitled to receive a director's fee of HKD 120,000 per annum and an annual emolument of HKD 240,000 for his position as the CEO of the Company which is subject to review and a discretionary bonus which is based on the performance of the Company and of Mr. Zhang, determined by the Board with reference to his duties and responsibilities as well as the prevailing market conditions. As at the date of the announcement, save as disclosed above, Mr. Zhang has not been a director of any listed company in Hong Kong or overseas in the last three years; does not have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company; and does not have any interest in any shares or underlying shares of the Company pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).