The board (the "Board") of directors (the "Directors") of China Uptown Group Company Limited announces that: Mr. Pan Shimin ("Mr. Pan") resigned as the chairman of the Board (the "Chairman") and
an executive Director as he would like to spend more time pursuing his own business, and he also ceased to act as the chairman of the nomination committee of the Company (the "Nomination Committee"), a member of the remuneration committee of the Company (the "Remuneration Committee") and the authorised representative of the Company as required 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 "Authorised Representative"); Mr. Chen Xian ("Mr. Chen") resigned as the vice chairman of the Board (the "Vice Chairman") and an executive Director as he would like to spend more time pursuing his own business; Mr. Pang Chung Fai Benny ("Mr. Pang") was appointed as the Chairman, an executive Director, a member of the Remuneration Committee and the Authorised Representative; and Mr. Fu Yongyuan ("Mr. Fu") was appointed as an executive Director, the chief executive officer of the Company (the "Chief Executive Officer"), and the chairman of the Nomination Committee, all with effect from 10 April 2024. Mr. Pang, aged 51, practiced as a lawyer since 1997 with several international law firms in Hong Kong and Sydney, Australia over two decades specialized in capital markets and general corporate and commercial work. Between 2009 to 2023, Mr. Pang held managing role of such law firms. Mr. Pang retired from his legal practice on 31 December 2023. Mr. Pang was a non-executive director of Huabang Technology Holdings Limited (a company with its shares listed on the main board of the Stock Exchange from 12 April 2018 to 30 October 2021. He was also an independent non-executive director of Janco Holdings Limited (a company with its shares listed on the GEM of the Stock Exchange from 27 September 2019 to 5 May 2021, an independent non-executive director of Sanbase Corporation Limited (a company with its shares listed on the GEM of the Stock Exchange from 8 December 2017 to 30 July 2021 and an independent non-executive director of Yuanda China Holdings Limited (a company with its shares listed on the main board of the Stock Exchange (stock code: 2789)) from 12 April 2011 to 6 June 2023 respectively. Mr. Pang received his bachelor's degree in laws (honors) from Bond University, Australia, in 1996. In 1997, Mr. Pang obtained his Graduate Diploma in Legal Practice and master's degree in laws from The College of Law, Sydney and the University of New South Wales, Australia, respectively. He has been admitted as a legal practitioner of the Supreme Court of New South Wales, Australia since 1997 and as a solicitor of the High Court of Hong Kong since 2009. Mr. Fu, aged 67, is a marine engineer and an economist for the shipping management. He graduated from Guangdong Province Economics Management Institute majoring in Industrial Economic Management and has over 40 years of experience in shipping and freight management. For two decades from 1972 to 1992, Mr. Fu served in the COSCO System including (COSCO Guangzhou). His responsibilities ranged from management of freight to vessel chartering operations. Mr. Fu was appointed as an executive director of Titan Petrochemicals Group Limited ("TPGL") (a company with its shares listed on the main board of the Stock Exchange and delisted on 23 August 2023) on 3 July 2012 and the chairman and legal representative of (Titan Quanzhou Shipyard Co. Ltd.) on 27 August 2012. On 30 September 2015, he resigned as the executive director of TPGL. Mr. Fu was appointed as an executive director of Asia Energy Logistics Group Limited ("AELG") (a company with its shares listed on the main board of the Stock Exchange on 6 July 2016. He resigned as an executive director of AELG on 30 October 2020.