Innovative Pharmaceutical Biotech Limited announce that Mr. Cheng Tak Yiu has been appointed as an executive director with effect from 4 July 2023. The biographical details of Mr. Cheng are set out below: Mr. Cheng, aged 48, graduated from the University of Hong Kong with Bachelor of Engineering Degree in Computer Engineering. Mr. Cheng started his career as an auditor in an international accounting firm.

Subsequently, Mr. Cheng entered into research industry and had worked in a number of international financial services companies including CLSA, Credit Suisse First Boston, BNP Paribas Peregrine, Deutsche Bank and T. Rowe Price International. From 20 January 2021 to 24 May 2021, Mr. Cheng was the executive director of Value Convergence Holdings Limited (Stock Code:821), a company listed on the Stock Exchange of Hong Kong Limited. Currently, Mr. Cheng is the Chief Financial Officer of Golden Ally LifeTech Group, Inc, a company listed in the OTC market in United State.

Mr. Cheng is an associate member of the Hong Kong Institute of Certified Public Accountants and is admitted as a charterholder of the CFA Institute.