Ocean Line Port Development Limited announced that Dr. Li Weidong (Dr. Li') has resigned as an independent non-executive Director, the chairman of the nomination committee (the nomination committee) and a member of each of the audit committee (the audit committee) and the remuneration committee (the remuneration committee) of the board with effect from 10 July 2024 so as to allow himself to devote more time for his other business commitments. The board announced that Mr. Cheng Yin Pan (Mr. Cheng) has been appointed as an independent non-executive director of the company, the chairman of the nomination committee and a member of each of the audit committee and the remuneration committee with effect from 10 July 2024. Mr. Cheng, aged 36, has over 13 years of experience in investment banking and corporate finance.

Mr. Cheng worked at the leveraged finance division of Standard Chartered Bank as analyst from April 2012 to May 2013 and at the investment banking division of Bank of America Merrill Lynch as senior associate from May 2013 to March 2016. Since March 2016, he has been serving as the president and chief executive officer of C Capital. Mr. Cheng also holds positions in the following companies/organisations: (i) member of the venture committee of Hong Kong Venture Capital and Private Equity Association since August 2019; (ii) committee member of Mainland Business Advisory Committee of Hong Kong Trade Development Council since April 2022; (iii) board member of Prenetics Global Limited, since May 2022; and (iv) board member of The LRC Charitable Foundation since March 2023.

Mr. Cheng holds a bachelor's degree of science in quantitative finance in the Chinese University of Hong Kong. Changes In Composition Of Board Committees: With effect from 10 July 2024, the composition of the Board committees is as follows: Audit Committee: Mr. Cheung Sze Ming (Chairman), Mr. Nie Rui and Mr. Cheng Yin Pan; Nomination Committee: Mr. Cheng Yin Pan (Chairman), Mr. Cheung Sze Ming and Mr. Nie Rui; and Remuneration Committee: Mr. Nie Rui (Chairman), Mr. Cheung Sze Ming and Mr. Cheng Yin Pan.