The board of directors of Planetree International Development Limited announced that Ms. Liu Yan has tendered her resignation as an independent non-executive director of the Company with effect from 1 November 2022, due to her other business commitments. Consequent upon Ms. Liu's resignation, she will cease to act as the chairman of the Audit Committee, the chairman of Remuneration Committee and a member of Nomination Committee of the Company with effect from 1 November 2022. The Board announced that Mr. Ma Ka Ki, an independent non-executive director of the Company since 1 October 2022, has been appointed as the chairman of the Audit Committee and the chairman of Remuneration Committee with effect from 1 November 2022.

Mr. Ma remains as a member of the Nomination Committee of the Company. Mr. Ma Ka Ki, aged 42, holds a Bachelor's degree in Accounting and Information System with merit from the University of New South Wales, Australia. Mr. Ma is a member of both the Hong Kong Institute of Certified Public Accountants and the Institute of Chartered Accountants in England & Wales.

He is also a member of both the Hong Kong Chartered Governance Institute and the Chartered Governance Institute. He has over 15 years of experience in auditing and accounting sectors and has extensive experience in financial and corporate secretarial services. During the period from February 2021 to September 2022, Mr. Ma was an independent non-executive director of Blue River Holdings Limited, the shares of which are listed on the Main Board of the Stock Exchange.

During the period from March 2018 to July 2020, Mr. Ma was an independent non-executive director of Celebrate International Holdings Limited incorporated in the Cayman Islands with limited liability which was delisted from the GEM Board of the Stock Exchange on 8 July 2020. An order was granted by the High Court of Hong Kong to wind up Celebrate International, whose principal businesses were money lending and securities investment and trading, on 22 July 2020 upon petition of Citizens Money Lending Corporation Limited filed on 12 May 2020 for an outstanding sum of approximately HKD 27 million together with interests accrued as set out in its announcement. Mr. Ma resigned as the independent non-executive director of Celebrate International with effect from 29 July 2020.

During the period from June 2016 to June 2018, Mr. Ma was an independent non-executive director of Oshidori International Holdings Limited, the shares of which are listed on the Main Board of the Stock Exchange.