The board of directors of Carry Wealth Holdings Limited announced that, due to the change in control of the Company, with effect from 1 February 2023: Mr. Li Haifeng has resigned as the Chairman of the Board an executive Director, the Chairman of the Nomination Committee and the Investment Committee, and an authorized representative of the Company. Mr. Tsang Hing Bun has resigned as an executive Director of the Company; Mr. Wang Ke has resigned as a non-executive Director, a member of the Renumeration Committee and the Investment Committee; Mr. Yau Wing Yiu has resigned as an independent non-executive Director of the Company, the Chairman of the Audit Committee and the Remuneration Committee, and a member of the Nomination Committee; Mr. Yu Ping Ming has resigned as an independent non-executive Director of the Company, a member of the Audit Committee, the Remuneration Committee and the Nomination Committee; and Mr. Wang Shiming has resigned as an independent non-executive Director of the Company, a member of the Audit Committee, the Remuneration Committee and the Nomination Committee. Each of Mr. Li Haifeng, Mr. Tsang Hing Bun, Mr. Wang Ke, Mr. Yau Wing Yiu, Mr. Yu Ping Ming and Mr. Wang Shiming has confirmed that he has no disagreement with the Board.

The Board also announce the following appointments all with effect from 1 February 2023: Ms. Ma Xiaoqiu has been appointed as the Chairlady of the Board of the Company, an executive Director, a member of the Remuneration Committee and the Nomination Committee, and the Chairlady of the Investment Committee; Mr. Tsang Chun Ho Anthony has been appointed as an executive Director of the Company and a member of the Investment Committee; Mr. Choi Tan Yee has been appointed as an executive Director of the Company and a member of the Investment Committee and an authorised representative the Company; Ms. Liu Xinyi has been appointed as a non-executive Director of the Company; Ms. Li Le has been appointed as a non-executive Director of the Company; Mr. Wang Tianzi has been appointed as an independent non-executive Director of the Company, a member of the Audit Committee and the Remuneration Committee, and the Chairman of the Nomination Committee; Mr. Wang Fan has been appointed as an independent non-executive Director of the Company, a member of the Audit Committee, the Chairman of the Remuneration Committee, and a member of the Nomination Committee; and Mr. Cheng Wai Hei has been appointed as an independent non-executive Director of the Company, the Chairman of the Audit Committee, and a member of the Remuneration Committee and the Nomination Committee. Ms. Ma Xiaoqiu(‘Ms. Ma'): Ms. Ma, aged 62, is a seasoned investor with over 20 years' experience in culture tourism, technology and healthcare. She has served as (i) the chairlady and a non-executive director of China Investment Fund Company Limited (stock code: 612) since 27 June 2017 and 24 January 2020, respectively; (ii) the chairlady and the non-executive director of Fullwealth International Group Holdings Limited (stock code: 1034) since 14 January 2021; and (iii) the chairlady and the executive director of TOMO Holdings Limited (stock code: 6928) since 21 July 2021.

The shares of these companies are listed on the Main Board of the Stock Exchange. Ms. Ma is the mother of Ms. Liu Xinyi, a non-executive Director of the Company. Mr. Tsang Chun Ho Anthony (‘Mr. Tsang') (also known as Zichen): Mr. Tsang, aged 38, is currently the managing director of Fuchsia Capital Limited.

He was also a fund manager of Emperor Greater China Investment Fund and Orient Investment Fund. Mr. Tsang has accumulated over 15 years of experience in financial investment, capital operation, corporate governance, strategic planning and mergers and acquisitions. He holds the Honorary Doctor of Business Administration from Lincoln University College and a Master Degree of Business Administration from Heriot-Watt University Edinburgh Business School.

Mr. Tsang has been accredited with the ‘Forbes Outstanding Leader Award' and the ‘World Outstanding Chinese Award' in 2022. Mr. Choi Tan Yee(‘Mr. Choi'): Mr. Choi, aged 39, is currently a responsible officer for Type 1 (dealing in securities) and Type 6 (advising on corporate finance) regulated activities under the SFO for Rainbow Capital (HK) Limited, where he is responsible for supervising and leading execution of corporate finance projects. Mr. Choi has over 15 years of experience in corporate finance, accounting and auditing.

Prior to the establishment of Rainbow Capital (HK) Limited in 2019, Mr. Choi worked in China Tonghai Capital Limited (formerly known as ‘Quam Capital Limited') between January 2015 and December 2019 with the last position as director. Between December 2009 and December 2014, Mr. Choi worked in Somerley Capital Limited with the last position as senior manager. He handled various initial public offerings, merger and acquisition transactions and fund-raising exercises.

Mr. Choi also worked in the audit division of Grant Thornton from 2006 to 2009. Mr. Choi graduated from The Chinese University of Hong Kong with a bachelor's degree of business administration in December 2005. Ms. Liu Xinyi(‘Ms. Liu'): Ms. Liu, aged 34, started her career as an artist in the performance arts and culture industry.

Ms. Liu also has experience in senior corporate management roles and has been a marketing director of Shenzhen Yihewenhuachuanbo Company Limited since 2017 and has been responsible for the management and assessment of investment projects in the areas of (i) marketing, events and exhibition for real estate projects; and (ii) real estate development in Shenzhen and Hainan. Ms. Liu has been an executive director and chief executive officer of Fullwealth International Group Holdings Limited (formerly known as Fullwealth Construction Holdings Company Limited) (a company listed on the Main Board of the Stock Exchange, stock code: 1034) since 14 January 2021, and is a substantial shareholder of the company. Ms. Liu is also a non-executive director of TOMO Holdings Limited (a company listed on the Main Board of the Stock Exchange, stock code: 6928).

She is currently the founder and controlling shareholder of Hainan Xuannv Network Technology Company Limited and has been involved in several investment projects including movie making and real estate investments. Ms. Liu is the daughter of Ms. Ma, the chairlady and an executive Director of the Company. Ms. Li Le(‘Ms. Li'): Ms. Li, aged 42, is currently the chief executive officer of Shenzhen Xinyue Trading Limited and Shenzhen Aishang Huayu Catering Management Co.

Ltd. She has accumulated extensive experience in the food and beverage industry and brand management.