Cornerstone Technologies Holdings Limited — Board/Management Information 2021

Mar 22, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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CORNERSTONE TECHNOLOGIES HOLDINGS LIMITED 基石科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8391)

APPOINTMENT OF EXECUTIVE DIRECTOR

The board (the “ Board ”) of directors (the “ Directors ”) of Cornerstone Technologies Holdings Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) is pleased to announce that Mr. Pan Wenyuan (“ Mr. Pan ”) has been appointed as the executive Director with effect from 22 March 2021.

The biographical details of Mr. Pan are set out below:

Mr. Pan, aged 37, obtained his diploma in travel, tourism and hospitality management from Windsor Management College in Singapore in 2020. He has been a director of Hao Yuan Wei Holdings Private Ltd. since 2020, a company incorporated in Singapore, which is principally engaged in the business of investment holding in Singapore. He has been responsible for deal origination, structuring, execution and portfolio management.

He was previously a director of YS Development Pte. Ltd., a company incorporated in Singapore, which was principally engaged in real estate investment. His main responsibilities in YS Development Pte. Ltd. were investment advisory, project development and business sourcing. On 2 July 2017, YS Development Pte. Ltd. was struck-off and dissolved due to cessation of business. As confirmed by Mr. Pan, (1) YS Development Pte. Ltd. was solvent before and at the time of its dissolution; (2) there was no fraudulent or wrongful act on his part leading to the striking off and dissolution of YS Development Pte. Ltd.; and (3) he is not aware of any actual or potential claim that has been or will be made against him as a result of the striking off and/or dissolution of such company.

There is no service contract entered into between the Company and Mr. Pan. He has no fixed term of service with the Company but he will be subject to retirement by rotation and re-election at the next annual general meeting of the Company in accordance with the articles of association of the Company. Mr. Pan is entitled to a monthly director’s fee of HK$10,000 which has been determined by the Board, under the recommendation from the remuneration committee of the Board, with reference to his duties and responsibilities, the Company’s performance and profitability, industry norm and general market conditions.

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As at the date of this announcement, Mr. Pan is deemed to be interested in approximately 3.98% of the total issued share capital of the Company by virtue of holding the entire issued share capital of Silver Rocket Limited. Silver Rocket Limited is the beneficial owner of approximately 3.98% of the total issued share capital of the Company.

Save as disclosed above, as at the date of this announcement, Mr. Pan (i) has not held any other major appointments and qualifications or directorships in other listed companies in Hong Kong or overseas in the last three years; (ii) does not have any relationship with any Directors, senior management, substantial or controlling shareholders (having the meaning ascribed to them under the GEM Listing Rules) of the Company; (iii) does not hold other positions with the Company or other members of the Group; and (iv) is not interested in any shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Save as disclosed above, there is no further information required to be disclosed pursuant to the requirements of Rules 17.50(2)(h) to (v) of the GEM Listing Rules and there are no other matters relating to the appointment of Mr. Pan that need to be brought to the attention of The Stock Exchange of Hong Kong Limited or the holders of securities of the Company.

The Board would like to take this opportunity to welcome Mr. Pan for joining the Board.

On behalf of the Board Cornerstone Technologies Holdings Limited LIANG Zihao

Co-Chairman and Executive Director

Hong Kong, 22 March 2021

As at the date of this announcement, the executive Directors are Mr. LIANG Zihao, Mr. SAM WENG WA Michael, Mr. LI Man Keung Edwin, Mr. LAU Wai Yan Lawson and Mr. Pan Wenyuan, the non-executive Director is Mr. WU Jianwei and the independent non-executive Directors are Mr. TAM Ka Hei Raymond, Mr. YUEN Chun Fai and Ms. ZHU Xiaohui.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Listed Company Information” page of the GEM website at www.hkgem.com for at least seven days after the date of publication and on the Company’s website at www.cstl.com.hk.

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