The board of directors of Kaisa Capital Investment Holdings Limited announced that Mr. Zhao Yi (Mr. Zhao) has resigned as chief executive officer of the company due to his other work arrangement with effect from 9 September 2022. Following the resignation of Mr. Zhao, the board announced that Mr. Zheng Wei (Mr. Zheng) has been appointed as chief executive officer of the company under both Rule 3.05 of the Listing Rules and Part 16 of the Companies Ordinance of Hong Kong with effect from 9 September 2022. Mr. ZHENG Wei, aged 44, graduated from the Lanzhou University of Technology with a major in accounting.

He is an intermediate accountant. He joined Kaisa Group Holdings Limited, a company listed on the Main Board of the Stock Exchange, which is a substantial shareholder of the Company, in February 2016. From February 2016 to June 2021, Mr. Zheng served as the vice president of Kaisa Culture Sports & Technology Group and the chairman of Kaisa Cultural Development company.

From February 2019 to June 2021, he served as the vice president of Shenzhen Cultural Association. From June 2021 to August 2022, Mr. Zheng was an executive director and the chief financial officer of Sing Tao News Corporation Limited, a company listed on the Main Board of the Stock Exchange. Mr. Zheng has entered into a service contract with the company for an initial term of three years commencing from 9 September 2022.

He is entitled to a fixed director's emoluments of HKD 300,000 annually and a discretionary bonus to be determined by the Board with reference to his experience and duties. The remuneration package of Mr. Zheng is recommended by the remuneration committee of the Company and approved by the Board with reference to his experience, duties, responsibilities and the company's remuneration policy. Mr. Zheng is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the articles of association of the company and as required under the Listing Rules.

Pursuant to the Articles of the Company, Mr. Zheng shall hold office until the next general meeting of the company where he shall be eligible for re-election.
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