The board of directors of Fountain Set (Holdings) Limited announced that Mr. ZHANG Zheng will be appointed as an executive director of the company with effect from 1 April 2021. Mr. ZHANG obtained with the professional qualification of board secretary of Shenzhen Stock Exchange in 2017. Mr. ZHANG has adequate knowledge in equity financing, mergers and acquisitions and fund management. Mr. ZHANG was the Researcher, Assistant of Fund Manager and Fund Manager of Da Cheng Fund Management Co. Ltd. between 2011 and 2017. Mr. ZHANG is currently the director and board secretary of Huafu Fashion Co. Ltd., a company listed on Shenzhen Stock Exchange.