Wenye Group Holdings Limited announce that Mr. Ma Kin Ling ("Mr. Ma") has been appointed as an independent non-executive Director of the Company and Chairman of the Audit Committee with effect from 22 July 2023. Mr. Ma, aged 41, holds various positions in companies listed on the Main Board of the Stock Exchange. He is currently the chief financial officer and company secretary of China Zenith Chemical Group Limited and an independent non-executive director of SunCorp Technologies Limited and Wisdom Wealth Resources Investment Holding Group Limited.

Mr. Ma is a member of the Hong Kong Institute of Certified Public Accountants. He graduated from City University of Hong Kong with a Bachelor degree of Business Administration (Honours) in Accountancy and Law. Prior to the joining the Group, he worked in reputable international accounting firms and has over 10 years' experience in auditing and accounting.

The Board announce that Ms. Yi Xiaopei has (i) resigned as the Chairman of the Audit Committee and will remain as a member of the Audit Committee; and ii) been appointed as the Chairman of the Remuneration Committee to fill the vacancy of the post, all with effect from 22 July 2023.