The board (the "Board") of directors (the "Directors") of New Century Group Hong Kong Limited (the "Company") announced that with effect from 1 June 2023: Ms. Huang Si Teng ("Ms. Huang") has been appointed as an executive Director; and Mr. Wong Steve Cheuk Hung ("Mr. Wong") has been appointed as an independent non-executive Director and a member of the Audit Committee, the Remuneration Committee and the Nomination Committee. Ms. Huang Si Teng, aged 28, holds a Bachelor of Arts degree awarded by the University of the Arts London and a Master degree awarded by the University College London. Ms. Huang has over 8 years of property investment and management experience in Southeast Asia.

Ms. Huang is a younger sister of Ms. Lilian Ng, Mr. Ng Wee Keat and Ms. Ng Siew Lang, Linda. Ms. Huang is a cousin of Ms. Chen Ka Chee. Ms. Huang is also a daughter of Ms. Sio Ion Kuan and Mr. Ng (Huang) Cheow Leng, who is the settlor and the trustee of a discretionary trust which holds the entire interest in Huang Group (BVI) Limited, the ultimate holding company of the Company.

Ms. Lilian Ng, Mr. Ng Wee Keat, Ms. Siew Lang, Linda, Ms. Chen Ka Chee and Ms. Sio Ion Kuan are executive directors of the Company. Ms. Huang did not hold any directorship in other listed public companies in the last three years and any other positions with the Company or other members of the Group. As at the date of this announcement, Ms. Huang is deemed to be interested in 3,556,133,691 shares of the Company which is held by New Century Investment Pacific Limited ("NCIPL") representing approximately 61.52% of the total issued share capital of the Company.

NCIPL is the controlling shareholder of the Company and ultimately owned by a discretionary trust of which Ms. Huang is one of discretionary beneficiaries. There is an employment contract between the Company and Ms. Huang without a specific term but subject to termination with three months' notice in writing to the other party. Ms. Huang is subject to retirement by rotation and re-election at least once every three years at annual general meetings in accordance with the bye-laws of the Company.

As an executive Director, Ms. Huang is entitled to receive a monthly director's emolument of HKD 38,000 which is determined by the Board with reference to her qualifications, experience, level of responsibilities undertaken, contribution to the Company, prevailing market conditions and the recommendation of Remuneration Committee. Ms. Huang is also entitled to receive discretionary bonus or other benefits as may be decided having regard to Ms. Huang's and the Company's performance. Independent Non-Executive Director: Mr. Wong Steve Cheuk Hung, aged 77, completed an advanced level course in real estate at Ryerson University (currently known as Toronto Metropolitan University) and was admitted as Fellow of the Real Estate Institute of Canada.

Mr. Wong is currently a Real Estate Broker and was a Professional Appraiser with over 55 years of experience in real estate business. Mr. Wong was qualified and registered as a Professional Appraiser of Alpha Appraisal Association of Ontario, Canada and a member of Toronto Real Estate Board and The International Institute of Public Appraisers Ltd., Chicago, US. Mr. Wong was a co-founder of Toronto Chinese Business Association (the "Association") in 1968 and was elected as the president of the Association in 1975.

Mr. Wong did not hold any directorship in other listed public companies in the last three years and any other positions with the Company or other members of the Group. Other than the relationship arising from him being an independent non-executive Director, Mr. Wong does not have any relationship with other Directors, senior management, substantial shareholders or controlling shareholders of the Company. As at the date of this announcement, Mr. Wong does not have any interest in shares of the Company withing the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Mr. Wong has entered into a letter of appointment with the Company for a fixed term of three years commencing from 1 June 2023 but subject to termination with one month's notice in writing to the other party. Mr. Wong is subject to retirement by rotation and re-election at least once every three years at annual general meetings in accordance with the bye-laws of the Company. As an independent non-executive Director, Mr. Wong is entitled to receive an annual director's fee of HKD 150,000 which is determined by the Board with reference to his qualifications, experience, level of responsibilities undertaken, contribution to the Company, prevailing market conditions and the recommendation of Remuneration Committee.