The board of directors of Green Energy Group announced that with effect from 1 December 2022, Mr. Wong Sai Hung has tendered his resignation as (i) an executive Director; (ii) the chairman of the Board; and (iii) the chairman of the nomination committee of the Company due to his other commitments that have prevented him from giving proper attention to the affairs of the Company ("Resignation"). Mr. Wong has confirmed that he has no disagreement with the Board and no claim against the Company in respect of the Resignation and there is no matter in connection with the Resignation that needs to be brought to the attention of the shareholders of the Company. The Board also announces that Mr. Lo Kam Wing, JP has been appointed as (i) an executive Director; (ii) the Chairman; and (iii) the chairman of the Nomination Committee with effect from 1 December 2022 ("Appointment").

The biographical details of Mr. Lo are set out below: Mr. Lo, aged 49, obtained a bachelor's degree in Computer Science and a master's degree in Computer Science from the University of Southern California in 1997 and 2000, respectively. He was appointed as a Justice of the Peace by the Government of the Hong Kong Special Administrative Region in 2016. Mr. Lo has extensive experience in the manufacturing and testing industries and international trade.

He was the chief information officer of Eastgate Technology Ltd. ("Eastgate") (a company currently known as Shinvest Holding Ltd., whose shares are listed on the Mainboard of Singapore Exchange Limited) from 2008 to 2010, responsible for the overall IT strategic and demand supply chain planning of Eastgate and its subsidiaries. Mr. Lo was appointed as the chairman of CMA Testing and Certification Laboratories from January 2018 to December 2020 and he has been an advisor of CMA TACL since January 2021. He is currently the managing director of Wing Li Group (International) Limited and the executive director of Wing Li Packaging Limited, responsible for overseeing the production facilities, research and development, and sales operations of these companies, which specialise in manufacturing and international trade.

Mr. Lo is also the chairman of Win Fung Property Company Limited, a property management company. Mr. Lo is actively involved in a number of industry and government organisations. He is currently the Executive Vice President of the Chinese Manufacturers' Association of Hong Kong and a vice chairman of the Hong Kong Brand Development Council.

Mr. Lo also serves as a member of each of the Hong Kong Trade Development Council, the Vocational Training Council and the Hong Kong Council for Testing and Certification, as well as a vetting committee member of the Trade and Industrial Organisation Support Fund. He is also a member of each of the China Overseas Friendship Association and the Chinese People's Political Consultative Conference Fujian Province Committee in the People's Republic of China.