The board of directors of Redsun Properties Group Limited announced that (i) Mr. Li Yonggang (Mr. Li) has tendered his resignation as a joint company secretary of the Company with effect from 29 May 2024 and will no longer hold any position in the Group after his resignation; and (ii) the Board has resolved to appoint Mr. Jia Hongbo (Mr. Jia) as the Joint Company Secretary with effect from 29 May 2024. Biography details of Mr. Jia are set out as below: Mr. Jia joined Hong Yang Group Company Limited, the controlling shareholder of the Company (Hong Yang Group), since September 2013 as the business assistant to the chairman of Hong Yang Group, and he has also held various positions of project manager, strategic investment director and operation director of Hong Yang Group. From 2016 to present, Mr. Jia is a senior member of the listing office of Hong Yang Group and has internally assisted the joint company secretary in handling the initial public offering of Redsun Services Group Limited (Stock Exchange stock code: 1971) and the Company, as well as the listing compliance matters, company secretarial matters and disclosure of information after their listing.

He has over 18 years of experience in engineering management and over 8 years of experience in corporate governance and company secretarial field. Mr. Jia is a senior engineer and registered first-class structure engineer. He obtained a master's degree of engineering from Harbin Institute of Technology in the PRC in July 2006.

Prior to joining the Company, Mr. Jia served as the Director of Structure Department of Jiangsu Huake Construction Engineering Quality Testing Co., LTD. from February 2008 to September 2013, and was the Engineer of Structure Department of Jiangsu Testing Center For Quality Of Construction Engineering Co., LTD. from August 2006 to February 2008. Ms. Yung Mei Yee (Ms. Yung), the other Joint Company Secretary, will assist Mr. Jia in discharging his duties as the Joint Company Secretary. Ms. Yung is a vice president of SWCS Corporate Services Group (Hong Kong) Limited.

She has over 20 years of experience in handling company secretarial, corporate governance and compliance affairs of listed companies. Ms. Yung has held various senior company secretarial positions in and acted as the company secretary or joint company secretary of a number of companies listed on the Stock Exchange. She is currently the joint company secretary of a few listed companies on the Stock Exchange.

She is a fellow of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. She obtained a bachelor's degree of arts in accountancy and a master's degree of arts in language and law from the City University of Hong Kong, and a bachelor's degree of laws from the University of London. Ms. Yung meets the requirements of a company secretary under Rules 3.28 and 8.17 of the Rules Governing the Listing of Securities on the Stock Exchange (the Listing Rules).

Mr. Jia currently does not possess the specified qualifications of a company secretary as required under Rule 3.28 of the Listing Rules. The Company has applied for, and the Stock Exchange has granted, a waiver from strict compliance with the requirements under Rules 3.28 and 8.17 of the Listing Rules (the Waiver) for a period of three years from the date of Mr. Jia's appointment as a Joint Company Secretary (the Waiver Period) on the conditions that: (i) Mr. Jia must be assisted by Ms. Yung during the Waiver Period; and (ii) the Waiver could be revoked if there are material breaches of the Listing Rules by the Company. Before the end of the Waiver Period, the Company shall demonstrate and seek the confirmation of the Stock Exchange that Mr. Jia, having had the benefit of Ms. Yung's assistance during the Waiver Period, has attained the relevant experience and is capable of discharging the functions of company secretary under Rule 3.28 of the Listing Rules such that a further waiver will not be necessary.

The Stock Exchange may withdraw or change the Waiver if the Company's situation changes.