The board (the "Board") of directors (the "Director(s)") of Hope Life International Holdings Limited (the "Company") announces that Mr. Xiao Yi ("Mr. Xiao") has been appointed as an executive Director with effect from 21 August 2023. The biographical details of Mr. Xiao is set out as follows: Mr. Xiao, aged 34, obtained a bachelor's degree in Marine Resources and Environment from Shanghai Ocean University. He has over 8 years of experience in hotel management in PRC.
Mr. Xiao has entered into a service agreement with the Company for a term of three years with effect from 21 August 2023, and is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association (the "Articles") of the Company and the Listing Rules. The remuneration of Mr. Xiao is HKD 240,000 per annum with a discretionary bonus which the Board may determine in its absolute discretion based on the recommendation of the Remuneration Committee. The remuneration of Mr. Xiao was determined with reference to his duties and responsibilities and prevailing arket conditions. Save as disclosed herein, as at the date of this announcement, Mr. Xiao (i) does not hold any other positions with the Company or any other members of the Group; (ii) does not have any relationship with any Director, senior management, substantial or controlling shareholder of the Company (as defined in the Listing Rules); (iii) has not held any directorship in public companies in the past three years the securities of which are listed on any securities market
in Hong Kong or overseas. As the date of announcement, save for his interests in corporation controlled by his, Mr. Xiao does not have other interests in the Shares, underlying Shares and debentures of the Company or any of its associated corporations (within meaning of Part XV of Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)).