Fufeng Group Limited — Board/Management Information 2019

Jun 10, 2019

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Fufeng Group Limited 阜豐集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 546)

RESIGNATION AND APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR, CHAIRMAN OF AUDIT COMMITTEE AND REMUNERATION COMMITTEE, AND MEMBER OF NOMINATION COMMITTEE

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the “ Board ”) of Directors (the “ Directors ”) of Fufeng Group Limited (the “ Company ”) announces that Mr. Xiao Jian Lin (“ Mr. Xiao ”) has tendered his resignation as an independent non-executive Director, the chairman of the audit committee (the “ Audit Committee ”) and the remuneration committee (the “ Remuneration Committee ”) and a member of the nomination committee (the “ Nomination Committee ”) of the Company with effect from 12 June 2019 in pursuit of his personal career development.

His resignation has been accepted by the Board. Mr. Xiao confirmed that he has no disagreement with the members of the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

The Board would like to express its sincere gratitude to Mr. Xiao for his valuable contributions to the Company during his tenure of services.

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APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR, CHAIRMAN OF AUDIT COMMITTEE AND REMUNERATION COMMITTEE, AND MEMBER OF NOMINATION COMMITTEE

The Board is pleased to announce that Mr. Lau Chung Wai has been appointed as an independent non-executive Director, the chairman of Audit Committee and Remuneration Committee, and a member of Nomination Committee with effect from 12 June 2019 in order to comply with rule 3.10A of the Rules Governing the Listing of Securities on the Stock Exchange (the “ Listing Rules ”).

Mr. Lau Chung Wai (劉仲緯) (“ Mr. Lau ”), aged 37, has over 14 years’ experience in the field of accounting and financial management. Mr. Lau graduated from the Hong Kong University of Science and Technology with a bachelor of business administration in accounting in November 2004 and is a fellow practising member of the Hong Kong Institute of Certified Public Accountants. Mr. Lau has been the chief financial officer and company secretary of Kwung’s Holdings Limited, a company primarily engaged in original design manufacturer and supplier of home decoration product, since March 2019 and was responsible for overseeing the investment, legal and financial affairs. From August 2015 to March 2019, Mr. Lau served in Da Sen Holdings Group Limited (stock code: 1580) as the chief financial officer and company secretary. Mr. Lau also served as an independent non-executive director of Metropolis Capital Holdings Limited (stock code: 8621) since November 2018.

Mr. Lau does not have any relationship with any directors, senior management, substantial or controlling shareholders of the Company. Save as disclosed above, he did not have any directorships in other listed public companies in the last three years nor has held any other position with the Company and any of its subsidiaries. As at the date of this announcement, Mr. Lau does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

Mr. Lau has entered into a service agreement with the Company commencing from 12 June 2019 for a term of two years and is subject to retirement from office and re-election at the next following general meeting of the Company in accordance with the articles of association of the Company. Mr. Lau will be entitled to a director’s fee of HKD180,000 per annum which is determined by the Board with reference to the duties and responsibilities concerned.

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Mr. Lau has confirmed that he meets the independence criteria as set out in Rule 3.13 of the Listing Rules. Save as disclosed above, there are no other matters relating to the appointment of Mr. Lau which need to be brought to the attention of the shareholders of the Company and there is no other information that is required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules.

The Board would like to extend its warm welcome to Mr. Lau.

By order of the board Fufeng Group Limited Li Xuechun Chairman

Hong Kong, 10 June 2019

As at the date of this announcement, the executive Directors are Mr. Li Xuechun, Mr. Zhao Qiang, Mr. Li Deheng, Mr. Yu Yao Ming and Mr. Li Guangyu and the independent nonexecutive Directors are Mr. Xiao Jian Lin, Ms. Zheng Yu and Mr. Xu Zheng Hong.

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