ShiFang Holding Limited announced that on 30 June 2023 (after the conclusion of the AGM), Ms. Wang Bao Zhu was appointed as a non-executive Director with immediate effect. The biographical details of Ms. Wang are set out below: Ms. Wang, aged 80, occupied management roles in township and county level organization before her retirement in 1994. She was a shareholder of Fujian ShiFang Culture Communication Co.

Ltd. (a wholly-owned subsidiary of the Company) between May 2003 and January 2006 (before the Company's listing in Hong Kong), participating in the Group's early stage of business development. Ms. Wang is the mother of Mr. Chen Zhi and the grandmother of Mr. Chen Ye. Board announced that on 30 June 2023 Mr. Chai Chung Wai was appointed as an independent non-executive Director with immediate effect.

The biographical details of Mr. Chai are set out below: Mr. Chai, aged 56, obtained a master degree in accounting from Jinan University, China and a master degree in business administration from the University of Manchester. Being a fellow of the Hong Kong Institute of Certified Public Accountants, a fellow of The Hong Kong Institute of Directors, a fellow member of the Association of Chartered Certified Accountants and a fellow of the Institute of Chartered Accountants in England and Wales, Mr. Chai has many years of experience in the accounting and financial field. He is currently an independent non-executive director of Sino-Life Group Limited, a company listed in Hong Kong and was formerly an independent non-executive director of Sino Energy International Holdings Group Limited, a company listed in Hong Kong.

Board further announces that on 30 June 2023 (after the conclusion of the AGM), Mr. Chen Ye was re-designated from a non-executive Director to an executive Director with immediate effect. The biographical details of Mr. Chen Ye are set out below: Mr. Chen Ye, aged 30, joined the Group in May 2018 and was, prior to his appointment as non-executive Director on 9 January 2023, a vice-president and investment director of the Company. Mr. Chen Ye obtained a bachelor's degree in communications engineering from Gengdan Institute of Beijing University of Technology.

Prior to joining the Group, Mr. Chen Ye had several years of experience in investment companies and participated in the various investment projects involving investment targets engaged in internet and technology, properties and financial services. Mr. Chen Ye is the son of Mr. Chen Zhi and a grandson of Ms. Wang. Simultaneously with the appointment of Mr. Chai as an independent non-executive Director on 30 June 2023 (after the conclusion of the AGM), Mr. Chai was also appointed as the chairman of the audit committee and a member of the nomination committee and the remuneration committee of the Company with immediate effect.