The board of directors of Huazhang Technology Holding Limited announced that the Company had served upon Mr. Zhu Gen Rong on 7 January 2022 a written notice to terminate a service agreement entered into between the Company and Mr. Zhu on 6 May 2013, with immediate effect. The Board had resolved to propose an ordinary resolution to remove Mr. Zhu as chairman and executive Director in an extraordinary general meeting of the Company in accordance with the articles of association of the Company. Following the termination of the Service Agreement, Mr. Zhu ceased to be the authorised representative of the Company (the ``Authorised Representative'') under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board announced that Mr. Fang Hui has been appointed as the Authorised Representative with effect from 10 January 2022.