Hope Education Group Co., Ltd. announced executive changes with effect from January 1, 2023. The company announced that Mr. Chen Yunhua and Dr. Gao Hao have tendered their resignations as independent non-executive Directors of the Company due to retirement and change in work arrangement respectively with effect from January 1, 2023. Mr. Chen and Dr. Gao have confirmed respectively that they have no disagreement with the Board, and no other matters relating to their resignations are required to be brought to the attention of the Stock Exchange and the shareholders of the Company.

The company further announced that Mr. Liu Zhonghui and Mr. Xiang Chuan have been appointed as independent non-executive Directors of the Company with effect from January 1, 2023. Mr. Liu, aged 64, graduated from Neijiang Normal University with major in Chinese Language in April 1980. Mr. Liu has extensive experience in teaching.

He has been the head of the language teaching and research team and deputy director of the academic affairs office of Jianyang Normal College, deputy head of the joint language teaching and research team of the Neijiang Normal system, deputy director of the general office of the Ziyang municipal commission, deputy secretary general of the municipal commission, director of the party research office of the municipal commission, director of the political research office of the municipal commission, the secretary of party committee and the head of the education bureau of Ziyang City and has retired since 2018. The Company has entered into a letter of appointment with Mr. Liu for a term of three years commencing on 1 January 2023, and will be subject to retirement by rotation and re-election at the annual general meeting of the Company pursuant to the Listing Rules, the articles of association of the Company and other applicable regulations and laws, until either Mr. Liu or the Company issues a notice in writing to the other party or pursuant to other terms in the letter of appointment for termination of service. According to his letter of appointment, an annual director's fee of HKD 180,000 will be payable to Mr. Liu and is subject to review by the Board and the nomination and remuneration committee of the Board from time to time.

The emolument is determined after making reference to the qualifications and experience of Mr. Liu, the committed level of duties and responsibilities and the prevailing market conditions. Mr. Xiang, aged 64, graduated from the University of Chinese Academy of Social Sciences with a master's degree in business and economics in July 1998. Mr. Xiang has extensive experience in corporate governance.

He has served as deputy head of factory operation of Lixin Iron Factory of Da County of Sichuan Province, head of Tanjiaba Iron Factory of Da County, deputy division head of the general office of the people's government of Da County, deputy director of the planning commission of Da County, director of economic coordination commission of Da County, chairman of the board of Haikou Xinda Industrial and Trading Company, director and secretary to the board of Tongwei Co., Ltd; vice president and secretary to the board of New Hope Liuhe Co., Ltd. and independent director of Xi ' an Triangle Defense Co., Ltd. Currently, Mr. Xiang is an independent director of Tianqi Lithium Industries Inc., Shanghai Menon Animal Nutrition Technology Co., Ltd., Xi ' an Longteng Semiconductor Co., Ltd., Sichuan Qiangshan Biotechnology Co., Ltd. and Ya'an Baitu High New Materials Co., Ltd., and a statutory legal representative of Chengdu Shucai Business Consulting Centre. He has been awarded various honours consecutively by New Fortune Magazine, including "Golden-plated Secretary to the Board", Advanced (Excellent) Staff and other honours, and a member of the New Fortune Hall of Fame of Golden-plated Secretaries to the Board. The Company has entered into a letter of appointment with Mr. Xiang for a term of three years commencing on 1 January 2023, and will be subject to retirement by rotation and re-election at the annual general meeting of the Company pursuant to the Listing Rules, the articles of association of the Company and other applicable regulations and laws, until either Mr. Xiang or the Company issues a notice in writing to the other party or pursuant to other terms in the letter of appointment for termination of service.

According to his letter of appointment, an annual director's fee of HKD 180,000 will be payable to Mr. Xiang and is subject to review by the Board and Nomination and Remuneration Committee from time to time. The emolument is determined after making reference to the qualifications and experience of Mr. Xiang, the committed level of duties and responsibilities and the prevailing market conditions. After the resignation of Mr. Chen as an independent non-executive Director on 1 January 2023, he has ceased to be the chairman of the Nomination and Remuneration Committee and a member of the audit committee of the Board.

Mr. Liu has been appointed as the chairman of the Nomination and Remuneration Committee and a member of the Audit Committee, and both shall take effect on 1 January 2023. After the resignation of Dr. Gao as an independent non-executive Director on 1 January 2023, he has ceased to be a member of the Nomination and Remuneration Committee and the Audit Committee. Mr. Xiang has been appointed as a member of the Nomination and Remuneration Committee and the Audit Committee, and both shall take effect on 1 January 2023.