Planetree International Development Limited announced that Dr. Leung Wing Cheung, William ("Dr. William Leung") has tendered his resignation as an Executive Director and executive chairman with effect from 30 June 2022 in order to devote more time to his other personal engagements. The board further announced that upon the recommendation by the nomination committee of the Company, Mr. Cheung Ting Kee ("Mr. Cheung") has been appointed as an executive director of the Company with effect from 27 June 2022. Mr. Cheung, aged 53, has over 27 years of working experience in the securities industry including equity research, equity sales, fund management and corporate finance.

Mr. Cheung is currently the sole director and a responsible officer of Akron Corporate Finance Limited, an indirect wholly-owned subsidiary of the Company, which is a Hong Kong company licensed to carry out type 6 regulated activities under the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong) ("SFO"). Mr. Cheung is a holder of a Bachelor Degree of Business Administration and a Master Degree in Professional Accounting. He is a fellow member of the Institute of Certified Management Accountants, Australia.

Mr. Cheung is an independent non-executive director of Yue Da International Holdings Limited (stock code: 629), the shares of which are listed on the Main Board of the Stock Exchange since July 2015. Mr. Cheung was an independent non-executive director of Deson Construction International Holdings Limited (stock code: 8268), the shares of which are listed on GEM of the Stock Exchange from December 2014 to July 2019. Following the resignation of Dr. William Leung as an executive director of the Board, Mr. Cheung will be appointed as acting chairman of the Company with effect from 30 June 2022.