Longfor Group Holdings Limited hereby announced that in order to devote more time to his personal commitments, Mr. Zeng Ming has tendered his resignation as an independent non-executive director and chairperson of the remuneration committee of the Company with effect from 1 January 2023. The Board announced that Mr. Leong Chong has been appointed as an independent non-executive director and chairperson of the remuneration committee of the Company with effect from 1 January 2023. The biographical details of Mr. Leong are as follows: Mr. Leong, aged 56, obtained his bachelor's degree in computer science from the University of California, Berkeley in the United States of America in December 1990.

Mr. Leong has over 28 years of experience in finance field. From July 1997 to June 2000, he worked as an analyst in the equity research division of Morgan Stanley Dean Witter. From June 2000 to October 2001, he was a director of the equity research department of Credit Suisse First Boston (Hong Kong) Limited.

From June 2002 to September 2015, he worked in Morgan Stanley Asia Limited with the last position held as the managing director of the investment banking division. From December 2016 to March 2019, he was the deputy general manager of S.F. Holding Co. Ltd. Mr. Leong has been appointed as an independent non-executive director of JY Grandmark Holdings Limited and Central China New Life Limited since November 2019 and April 2020, respectively.

Mr. Leong was a director of Gateway Capital Group Limited a company incorporated in Hong Kong and was dissolved on 9 August 2002. Mr. Leong confirmed that the above company was solvent prior to its deregistration and was deregistered as it had not commenced business since establishment or had ceased to conduct business. He further confirmed that, as of the date of this announcement, no claims have been made against him and he was not aware of any threatened or potential claims made against him and there are no outstanding claims and/or liabilities as a result of the deregistration of the above company.