The board of directors of Ronshine China Holdings Limited (the "Company", together with its subsidiaries, the "Group") announces that Ms. CHEN Shucui ("Ms. Chen") has resigned as a non-executive Director with effect from 4 November 2022 as she wishes to devote more time to her other commitments. Ms. Chen has confirmed that she has no disagreement with the Board and there is no matter in relation to her resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board would like to express its gratitude to Ms. Chen for her valuable efforts and contributions to the Company during her tenure of office.

The Board announced that Mr. LI Shupei ("Mr. Li") has been appointed as a non-executive Director with effect from 4 November 2022. The biographical details of Mr. Li are as follows: Mr. Li, aged 41, is currently the acting head of the Equity Investment Centre and the head of the research division of the Equity Center of Huaxia Jiuying Asset Management Co. Ltd. Prior to his current role, he was as an analyst and a first-grade researcher specializing in macro strategy and non-bank financial intermediaries at the equity investment department of China Life Asset Management Company Limited from June 2015 to May 2018 and a macro strategy analyst and vice president of the research division at CSC Financial Co.

Ltd. (a company listed on the Stock Exchange - stock code: 6066), from July 2010 to June 2015 specializing in A-share strategies, economic cycles and broad asset allocation. Mr. Li obtained a Bachelor's degree in management from Zhengzhou University in 2005 and a Master's degree and doctorate in economics from Nankai University in 2007 and 2010, respectively. Currently, Mr. Li also serves as a non-executive director of Fosun International Limited (a company listed on the Stock Exchange - stock code: 00656).

Mr. Li has entered into a letter of appointment with the Company for a fixed term of three years starting from 4 November 2022. Mr. Li will not receive any remuneration or director's fee for holding his office as a non-executive Director. Mr. Li will hold office until the next annual general meeting of the Company and is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company.

As at the date of this announcement, save as disclosed above, Mr. Li confirms that he does not have any relationship with any other Directors, senior management, substantial shareholders, or controlling shareholders of the Company; he does not have, and is not deemed to have, any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the laws of Hong Kong); he does not hold other positions with the Company or other members of the Group; and he does not hold and did not in the last three years hold any other directorships in any other public companies of which the securities are listed on any securities market in Hong Kong or overseas.