Adicon Holdings Limited at the Annual General Meeting approved appointment of Mr. ZHOU Mintao as a non-executive director of the Company. executive Director has been approved by the Shareholders at the 2024 AGM. Mr. ZHOU has entered into a letter of appointment with the Company for a term of 3 years commencing from May 30, 2024 subject to the articles of association of the Company and the Listing Rules.

Pursuant to the appointment letter entered into by Mr. ZHOU with the Company, he is entitled to receive a remuneration of RMB732,000 annually with discretionary bonus for his directorship with the Company with reference to his duties and responsibilities towards the Company and prevailing market conditions. Upon Mr. ZHOU's appointment as a non-executive Director, the Board has resolved to appoint Mr. ZHOU as the chairman of the strategy committee of the Board with effect from May 30, 2024 and accept the resignation of Ms. YANG Ling as the chairwoman of the Strategy Committee on the same date. Ms. YANG will continue to serve as a member of the Strategy Committee.