Huazhang Technology : APPOINTMENT OF NON-EXECUTIVE DIRECTOR

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HUAZHANG TECHNOLOGY HOLDING LIMITED

華章科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1673)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of Huazhang Technology Holding Limited (the "Company", and together with its subsidiaries, the "Group") is pleased to announce that Mr. Shi Chenghu ("Mr. Shi") has been appointed as a non-executive director of the Company with effect from 27 April 2021:

The biographical details of Mr. Shi are as follows:

Mr. Shi (aged 46) is the founding partner and the chief executive officer of BANDS Financial Limited ("BANDS"), which is a commodity and financial futures broker based in Hong Kong. BANDS currently holds type 2 (dealings in futures contracts) licence under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO") and Mr. Shi is currently a responsible officer to carry out type 2 (dealing in futures contracts) (since October 2015) regulated activities under the SFO. Mr. Shi started his career with China's State Reserve Bureau in 1996, where he was involved in the strategic reserve management of ferrous and non-ferrous metals for the nation. In 2003, Mr. Shi joined Sempra Metals Far East Limited, a subsidiary of Sempra Energy, where he worked primarily for its London subsidiary, Sempra Metals Limited, a category 1 member of the London Metal Exchange (the "LME"). In 2008, as the China Chief Representative of Newedge Financial Inc. ("Newedge"), Mr. Shi founded CITIC Newedge Futures Co., Ltd., one of the first three Sino-foreign future joint ventures in China then. The joint venture was regarded as the first step of the internationalisation of the China's commodities futures market. Before establishing BANDS, Mr. Shi was a registered representative and responsible officers for type 2 (dealing in futures contracts) under SFO since 2006 and held several senior roles at a number of international financial institutions, including as managing director and head of commodities futures for Jefferies Hong Kong Limited in Asia between 2012 to 2015 and head of metals for Newedge in Asia between 2008 to 2012. Mr Shi's career has witnessed the phenomenal growth of Chinese economy and it's influence to the global commodities market. Mr Shi is widely recognised as a leading figure on promoting globalisation of Chinese commodities companies, Chinese metals market and Renminbi internationalisation on commodities trading. In 2020, Mr. Shi has been appointed as the member of the User Committee of the LME where he can voice the interests of metal trading community particularly from an Asian perspective.

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Mr. Shi obtained a Bachelor degree in Metallurgical Engineering from University of Science and Technology Beijing in 1996 and Executive Master of Business Administration from China Europe International Business School in 2019.

Mr. Shi has entered into a letter of appointment with the Company pursuant to which Mr. Shi has been appointed as a non-executive director of the Company for a term of three years commencing from 27 April 2021, terminable by the Company giving not less than three months' prior notice in writing without payment of compensation and subject to retirement by rotation and re-election at the general meeting of the Company in accordance with the articles of association of the Company. Mr. Shi is entitled to a total remuneration of HK$200,000 per annum for his appointment as a non- executive director of the Company. In addition, performance-based bonus(es) (in addition to any discretionary bonus) may be payable to Mr. Shi from time to time to be determined by the Board in recognition of his contribution to the Company. The remuneration was determined by the Board based on the recommendation of the remuneration committee of the Company with reference to Mr. Shi's experience, duties, responsibilities and the prevailing market conditions.

As at the date of this announcement, Mr. Shi directly holds 89,452,000 shares of the Company (approximately 12.21% of the issued shares of the Company).

Save as disclosed above, to the best knowledge of the Directors, as at the date of this announcement, Mr. Shi does not:

1. hold any other interests in the shares of the Company within the meaning of Part XV of the SFO;
2. have any relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company;
3. hold any other positions with the Company or other members of the Group; and
4. hold any other directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years.

Save as disclosed above, there is no other matter relating to the appointment of Mr. Shi that needs to be brought to the attention of the shareholders of the Company and there is no other information which is required to be disclosed pursuant to paragraphs (h) to (v) of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

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The Board would like to take this opportunity to welcome Mr. Shi for joining the Board.

On behalf of the Board

Huazhang Technology Holding Limited

Zhu Gen Rong

Chairman

Hong Kong, 27 April 2021

As at the date of this announcement, the executive Directors are Mr. Zhu Gen Rong, Mr. Wang Ai Yan, Mr. Liu Chuan Jiang and Mr. Jin Hao, the non-executive Director is Mr. Shi Chenghu, and the independent non-executive Directors are Mr. Kong Chi Mo, Mr. Heng, Keith Kai Neng and Mr. Yao Yang Yang.

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