Renco Holdings Group Limited announced that Ms. Xing Mengwei has been appointed as an executive Director, a member of the executive committee of the Board and an Authorised representative, all with effect from 21 July 2022. Ms. Xing, aged 32, obtained a bachelor degree in Information Engineering from Beifang University of Nationalities in China in July 2013 and a degree of Master of Science in Business Information Systems from City University of Hong Kong in July 2014. Ms. Xing joined the Group in May 2022.

She is currently a director and responsible officer of Renco Investments Limited, a company principally engaged in Type 4 and Type 9 regulated activities under the Securities and Futures Ordinance. Ms. Xing has over eight years' working experience in asset and investment management. From July 2014 to May 2018, Ms. Xing was an assistant vice president of IPS Strategic Management Limited, a company principally engaged in the business of investment, where she was mainly responsible for coordination and execution of private equity investment projects, immigration business and overseas business consultation.

During May 2018 to April 2022, Ms. Xing was the chief investment officer of N Plus Capital Limited, a company principally engaged in Type 4 and Type 9 regulated activities under the SFO, and then a director and a responsible officer of Yee Tai Capital Limited, a company principally engaged in Type 4 and Type 9 regulated activities under the SFO, where she accumulated experience in investment management, managing investment projects and providing investment advice. Since June 2021, Ms. Xing has been an independent non-executive director of Huaibei GreenGold Industry Investment Co. Ltd., a company principally engaged in sand and gravel business.

Mr. Xu Xinwei has been appointed as an independent non-executive Director, the chairman of the nomination committee of the Board and a member of each of the audit committee of the Board and the remuneration committee of the Board, all with effect from 21 July 2022. Mr. Xu, aged 37, obtained a bachelor degree in Mechanical Engineering from Shanghai Jiao Tong University in China in July 2007, a master degree in Mechanical Engineering from University of Michigan in the U.S.A. in May 2010 and a degree of Master of Finance from The University of Hong Kong in November 2011. Mr. Xu has over ten years of working experience in finance and investment management.

For about eight years, Mr. Xu worked as an analyst and an investment manager with different companies focusing on strategy research, management and investment of fund and related duties. Mr. Xu was a vice-president of the direct investment division of CCB International Asset Management Limited from February 2016 to August 2019, where he was mainly in charge of management and execution of secondary market trading and direct investment projects including investments in bonds, convertible bonds and private placements of listed companies and pre-IPO investments. From September 2019 to September 2021, Mr. Xu was the chief investment officer and a responsible officer of Swenson Asset Management Limited, a company principally engaged in asset management, where he accumulated experience in fund management.

Mr. Xu has been an investment portfolio manager of Valuable Asset Management Limited, a company principally engaged in asset management, since October 2021, focusing on investment advisory and deals initiation and structuring. Mr. Lau Fai Lawrence, an independent non-executive Director, has ceased to be an Authorised Representative and, as disclosed above, Ms. Xing has been appointed as an Authorised Representative, both with effect from 21 July 2022. Mr. Mak Kwok Kei, an independent non-executive Director, has been re-designated from the chairman of the Nomination Committee to a member of the Nomination Committee; and from a member of the Remuneration Committee to the chairman of the Remuneration Committee, both with effect from 21 July 2022.