The board of directors (the "Board") of Ruifeng Power Group Limited (the "Company") hereby announces that Mr. Wong Ka Wai ("Mr. Wong") has resigned from his positions as the company secretary of the Company (the "Company Secretary"), the Chief Financial Officer of the Company (the "CFO"), an authorized representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Authorized Representative") and the agent for the acceptance of service of process and notices on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Process Agent") due to the need to devote more time for his other commitments, with effect from 30 June 2023. Mr. Wong has confirmed that there is no disagreement with the Board and there are no matters that need to be brought to the attention of the shareholders of the Company or the Stock Exchange in relation to his resignation. The Board is also pleased to announce that Mr. Lee Yiu Man ("Mr. Lee") has been appointed by the Company as the Company Secretary, the CFO, an Authorized Representative and the Process Agent in place of Mr. Wong, with effect from 30 June 2023.

Mr. Lee has approximately 23 years of finance experience in Hong Kong and the PRC. Before joining Company, Mr. Lee has served as the group financial controller in Qiushi Technology Group Limited, an ELV system integration service provider in the PRC, from September 2019 to May 2023; as a financial controller in Grown Up Group Investment Holdings Limited (stock code: 1842), whose shares are listed on the Main Board of the Stock Exchange, from January 2018 to June 2019; as a group financial controller in Golden Dragon International Travel Co. Limited, a company engaged in inbound travel and retail from July 2017 to January 2018; and as an assistant financial controller in Lapco Holdings Limited (stock code: 8472), whose shares are listed on GEM of the Stock Exchange, from January 2017 to May 2017.

From September 2011 to August 2016, Mr. Lee worked as a senior finance manager in Wang On Group Limited (stock code: 1222), and Easy One Financial Group Limited (stock code: 0221, which was privatised by way of a scheme of arrangement, with its listing withdrawn with effect from 21 October 2020), whose shares are/were listed on the Main Board of the Stock Exchange, where he was responsible for the financial accounting functions in Hong Kong and the PRC. From November 2008 to September 2011, Mr. Lee worked as a finance manager at China Resources Gas Group Limited (stock code: 1193), whose shares are listed on the Main Board of the Stock Exchange, where he was mainly responsible for overseeing group financial and management reporting affairs. From 2000 to 2008, Mr. Lee worked at several international and local accountants' firms in Hong Kong with his last position as an audit manager, where he was mainly responsible for audit assignments, audit planning and handling other audit matters.

Mr. Lee graduated from the University of Wollongong, and obtained a bachelor's degree of commerce majoring in accounting in 2000. Mr. Lee is a member of Hong Kong Institute of Certified Public Accountants and CPA Australia.