Fufeng Group Limited — Board/Management Information 2020

May 29, 2020

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)

RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER AND APPOINTMENT OF CHIEF EXECUTIVE OFFICER

The Board announces that, with effect from 1 June 2020:

• (1) Mr. Zhao Qiang has resigned as an executive Director and Chief Executive Officer due to his intention to devote more time to his personal and other commitments; and

• (2) Mr. Li Deheng, an executive Director, has been appointed as the Chief Executive Officer.

The board (the “ Board ”) of Directors (the “ Directors ”) of Fufeng Group Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) announces that with effect from 1 June 2020:

RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

Mr. Zhao Qiang (“ Mr. Zhao ”) has tendered his resignation as an executive Director and chief executive officer of the Company (“ Chief Executive Officer ”) due to his intention to devote more time to his personal and other commitments.

Mr. Zhao 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. Zhao for his valuable contributions to the Company during his tenure of services.

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APPOINTMENT OF CHIEF EXECUTIVE OFFICER

The Board announces that, Mr. Li Deheng (“ Mr. Li ”), an executive Director, has been appointed as the Chief Executive Officer in replacement of Mr. Zhao.

Mr. Li, aged 51, has over 19 years of experience in manufacturing operation and business management. Before his appointment as the Chief Executive Officer, Mr. Li was an executive Director and a deputy executive general manager of the Group who is responsible for the general operation of production, supply chain and logistics system of the Group. Mr. Li graduated from 山東聊城師範學院 (Shandong Liaocheng Teacher’s College) in 1992 and obtained a bachelor’s degree in chemistry education. Mr. Li joined the Group in January 2001.

In his role as the Chief Executive Officer, Mr. Li would be responsible for the Group’s operation management and business strategy, implementing decisions and plans approved by the Board, making day to-day operational and management decision and coordinating overall business operations.

As at the date of this announcement, Mr. Li is the brother-in-law of Mr. Li Xuechun, an executive Director and chairman of the Board. Mr. Li is also a director of Shandong Fufeng Fermentation Co., Ltd., Baoji Fufeng Biotechnologies Co., Ltd., IM Neimenggin Fufeng Biotechnologies Co., Ltd. and Hulunbeir Northeast Fufeng Biotechnologies Co., Ltd., all being subsidiaries of the Company. Save as disclosed herein, Mr. Li (a) has no other relationship with any directors, senior management or substantial or controlling shareholders of the Company; (b) does not currently, nor did he in the past three years, held any directorship in other listed public companies; and (c) does not hold any other positions with the Company or any other member of the group companies of which the Company forms part. Mr. Li has entered into a service contract with the Company as the position of executive Director since 8 February 2007. Mr. Li is entitled to an annual salary of RMB1,120,000 and a discretionary bonus with maximum amount of RMB280,000 which are determined according to his responsibilities and contribution to the Group. There is no service agreement in relation to Mr. Li’s appointment as the Chief Executive Officer. Mr. Li will receive no additional remuneration for his appointment as the Chief Executive Officer.

As at the date of this announcement, Mr. Li is interested in 100% of the issued share capital of Empire Spring Investments Limited, which in turn is interested in 33,320,160 shares of the Company, representing approximately 1.32% of the issued share capital of the Company. Save as disclosed above, Mr. Li does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 Laws of Hong Kong).

Other than those disclosed above, there are no other matters concerning Mr. Li that need to be brought to the attention of the shareholders of the Company nor any information to be disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange.

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The Board would like to welcome Mr. Li for taking up the new position as the Chief Executive Officer.

By order of the Board Fufeng Group Limited Li Xuechun Chairman

Hong Kong, 29 May 2020

As at the date of this announcement, the executive directors of the Company are Mr. Li Xuechun, Mr. Zhao Qiang, Mr. Li Deheng, Mr. Yu Yao Ming and Mr. Li Guangyu and the independent non-executive directors of the Company are Mr. Lau Chung Wai, Mr. Xu Zheng Hong and Ms. Zheng Yu.

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