Zhidao International (Holdings) Limited announced that with great sorrow that Mr. Fung Kwok Kit the Chairman, the authorised representative and the member of the Remuneration Committee of the Company, passed away at Hong Kong Baptist Hospital on 26 September 2021. The board of directors of the company announced that Mr. Tung Yee Shing has been appointed as an executive director, the Chairman, the authorized representative and the member of Remuneration Committee with effect from 16 November 2021. Mr. Tung, aged 47, has extensive professional and management experience in finance and accounting, mergers and acquisitions and strategic planning. Mr. Tung is currently the company secretary of Taung Gold International Limited. He was the Chairman and executive director of the Company from 1 December 2013 to 11 December 2017 and authorized representative and member of Remuneration Committee of the Company from 3 January 2017 to 11 December 2017. Mr. Tung holds a Bachelor of Social Science degree in Economics and a Master's degree in Business Administration from The Chinese University of Hong Kong. He is a member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants. The Board would like to express its warm welcome to Mr. Tung on his appointment as an executive director, the Chairman, the authorized representative and the member of Remuneration Committee of the company.