Fufeng Group Limited — Board/Management Information 2019

Mar 19, 2019

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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Fufeng Group Limited 阜豐集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 546)

APPOINTMENT AND RESIGNATION OF EXECUTIVE DIRECTORS

The Board announces that:

• (a) The Board has appointed a senior management of the Group, Mr. Yu Yao Ming, as an executive Director with effect from 20 March 2019; and

• (b) Mr. Pan Yuehong has tendered his resignation as an executive Director and vice general manager of the Group with effect from 20 March 2019.

The board (the “ Board ”) of directors (the “ Directors ”) of Fufeng Group Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) announces that:

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board has appointed a senior management of the Group, Mr. Yu Yao Ming (“Mr. Yu”), as an executive Director with effect from 20 March 2019.

Biographies

Mr. Yu Yao Ming, aged 49, is a vice general manager of the Group who joined the Group in September 2018. Mr. Yu obtained a bachelor degree of accountancy from Shanghai University of Finance and Economics in 1992 and a doctorate in management from IPAG Business School in France in 2018. Mr. Yu has over 25 years of experience in accounting and financial management sector. Mr. Yu has been a member of the Chinese Institute of Certified Public Accountants. Prior to joining the Group, Mr. Yu was an executive director, vice president and chief financial officer of Springland International Holdings Limited (the shares of which are listed on the main board of the Stock Exchange of Hong Kong Limited, stock code: 1700) from October 2007 to March 2018. And, from 2001 to 2007, he served as the accounting

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manager of Shanghai Secco Petrochemical Co., Ltd. Currently, Mr. Yu is responsible for development strategy and financial strategy planning of the Group and the Group’s financial system operations and management. In May 2018, Mr. Yu was appointed as an independent non-executive director of Shanghai Heitao Interactive Network Technology Co., Ltd.

Service Contracts

Mr. Yu Yao Ming has entered into a service contract with the Company under which he agreed to act as an executive Director for an initial term of three years commencing from 20 March 2019, which may be terminated by not less than three months’ notice in writing served by either Mr. Yu or the Company. Such appointment is subject to provisions relating to retirement by rotation and re-election in accordance with the articles of association of the Company. Mr. Yu is entitled to a remuneration of RMB750,000 per annum and a maximum discretionary bonus of RMB750,000 per annum (as an executive Director of the Group and such service contract would supersede the previous employment contract entered into by the Group with Mr. Yu), which has been approved by the Board having considered his responsibilities and duties, the Company’s remuneration policy and the prevailing market standards.

Save as disclosed above, as at the date of this announcement, Mr. Yu (i) do not hold any other positions in the Group; (ii) do not have any relationship with any Directors, senior management, or substantial or controlling shareholders of the Company; (iii) do not have any other interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance; and (iv) did not hold any other directorships in the last three years up to the date of this announcement in public companies, the securities of which are listed on any securities market in Hong Kong or overseas.

Save as disclosed in this announcement, there is no other information to be disclosed pursuant to any of the requirements of Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange (the “ Listing Rules ”) and there are no other matters relating to the appointments of Mr. Yu that need to be brought to the attention of The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) and the shareholders of the Company (the “ Shareholders ”).

The Board would like to take this opportunity to welcome Mr. Yu on joining the Board.

RESIGNATION OF EXECUTIVE DIRECTOR

Mr. Pan Yuehong has tendered his resignation as an executive Director and vice general manager of the Group as a result of personal health reason. His resignation has been accepted by the Board and will be effective from 20 March 2019.

Mr. Pan has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the Stock Exchange and the Shareholders.

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The Board would like to take this opportunity to express its sincere gratitude to Mr. Pan for his valuable contribution to the Company during his tenure of services.

By order of the Board Fufeng Group Limited Li Xuechun Chairman

Hong Kong, 19 March 2019

As at the date of this announcement, the executive directors of the Company are Mr. Li Xuechun, Mr. Zhao Qiang, Mr. Li Deheng, Mr. Pan Yuehong and Mr. Li Guangyu and the independent non-executive directors of the Company are Mr. Xiao Jian Lin, Mr. Xu Zheng Hong and Ms. Zheng Yu.

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