China Electronics Optics Valley Union : CHANGE OF DIRECTOR

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China Electronics Optics Valley Union Holding Company Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 798)

CHANGE OF DIRECTOR

The Board hereby announces that,

1. Ms. Chan Ching Har Eliza has tendered her resignation as an independent non-executive Director with effect from 1 August 2022; and
2. Mr. Qi Liang has been appointed as an independent non-executive Director with effect from 1 August 2022.

CHANGE OF DIRECTOR

Resignation of Director

The board (the "Board") of directors (the "Director(s)") of China Electronics Optics Valley Union Holding Company Limited (the "Company") hereby announces that Ms. Chan Ching Har Eliza ("Ms. Chan") has tendered her resignation as an independent non-executive Director with effect from 1 August 2022 because she wishes to dedicate more time to her commitment as a member of the Executive Council of Hong Kong. Ms. Chan will also cease to be the Chairman of the remuneration committee of the Board (the "Remuneration Committee") with effect from 1 August 2022.

Ms. Chan has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company (the "Shareholders").

The Company would like to express its sincere gratitude to Ms. Chan for her contribution to the Company during her tenure of office.

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Appointment of Director

The Board is pleased to announce that, with effect from 1 August 2022, Mr. Qi Liang ("Mr. Qi") has been appointed as an independent non-executive Director, and the Chairman of the Remuneration Committee.

The biographical details of Mr. Qi are set out as follows:

Mr. Qi Liang (齊良), aged 60, graduated from the Finance Department of Capital University of Economics and Business (首都經濟貿易大學金融系) with a Bachelor of Economics in 1986, and further graduated from the Graduate School of the Chinese Academy of Social Sciences (中國社會科 學院研究生院) in 1998. He has been accredited as a senior economist (高級經濟師).

Mr. Qi had previously held various positions in China Merchants Bank Beijing Branch, including the Office Deputy Director and the Branch President. He had been the Assistant to the President, and the General Manager of the Finance Department of China Aerospace International Holdings Limited (中 國航天國際控股有限公司). He was the Deputy Chief Accountant and the Deputy Officer of Science Committee of China Satellite Communications Company Limited (中國衛通集團股份有限公司), and was a director of APT Satellite Communications (Shenzhen) Company Limited (亞太衛星寬帶通信 (深圳)有限公司). Mr. Qi was an executive director and the Vice President of APT Satellite Holdings Limited, the shares of which are listed on The Stock Exchange of Hong Kong Limited (stock code: 1045), from June 2008 to March 2022.

Mr. Qi has entered into a letter of appointment with the Company for a term of three years commencing from 1 August 2022. Pursuant to the articles of association of the Company, Mr. Qi will hold office until the forthcoming general meeting of the Company and shall be eligible for re-election at that general meeting. Mr. Qi will receive a director's remuneration of RMB200,000 per annum, which has been recommended by the Remuneration Committee and determined by the Board with reference to the remuneration of other independent non-executive Directors.

Save as disclosed in this announcement, as at the date of this announcement, Mr. Qi:

1. does not hold any position with the Company or any of its subsidiaries;
2. has not held any other directorship in any listed public companies, whether in Hong Kong or overseas, in the last three years;
3. does not have any other relationship with any director, senior management or substantial or controlling shareholder of the Company; and
4. does not hold any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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Save as disclosed in this announcement, there are no other matters relating to the appointment of Mr. Qi that need to be brought to the attention of the Shareholders, and there is no other information which is required to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board would like to take this opportunity to welcome Mr. Qi in joining the Board.

By Order of the Board

China Electronics Optics Valley Union Holding Company Limited

Liu Guilin

Chairman

Wuhan, Hubei, the People's Republic of China

26 July 2022

As at the date of this announcement, the directors of the Company are Mr. Liu Guilin, Mr. Xiang Qunxiong, Mr. Zhang Jie, Ms. Sun Ying and Mr. Hu Bin as non-executive directors; Mr. Qi Min, Mr. Qiu Hongsheng and Ms. Chan Ching Har Eliza as independent non-executive directors; Mr. Huang Liping as an executive director.

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