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

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.

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,

AND MEMBER OF AUDIT COMMITTEE,

REMUNERATION COMMITTEE, AND NOMINATION COMMITTEE

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of Directors (the "Directors") of Fufeng Group Limited (the "Company") announces that Ms. Zheng Yu ("Ms. Zheng") has tendered her resignation as an independent non-executive Director, and a member of the audit committee (the "Audit Committee"), the remuneration committee (the "Remuneration Committee") and the nomination committee (the "Nomination Committee") of the Company with effect from 1 April 2021 due to her personal career development.

Her resignation has been accepted by the Board. Ms. Zheng confirmed that she has no disagreement with the members of the Board and there is no other matter relating to her 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 Ms. Zheng for her valuable contributions to the Company during her tenure of services.

- 1 -

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

The Board is pleased to announce that Mr. Zhang Youming ("Mr. Zhang") has been appointed as an independent non-executive Director, and a member of Audit Committee and Remuneration Committee, and Nomination Committee with effect from 1 April 2021 in order to comply with Rule 3.10A of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").

Mr. Zhang Youming, aged 57, currently serving as the Director of the State Key Laboratory of Microbial Technology, Shandong University, has over 30 years of experience in research and development of synthetic biotechnology, microbiology recombinant engineering technology and microbial natural drugs.

Mr. Zhang received his bachelor's degree in biochemistry from Xiamen University in 1985, and then his master's degree in biochemistry and molecular biology from the Chinese Academy of Medical Sciences/Peking Union Medical College in 1988. In 1994, he received his doctor of philosophy in molecular and cellular biology from the University of Heidelberg, Germany. From 2000 to 2013, he was the Chief Scientific Officer and founder of Gene Bridges GmbH, Germany. In 2013, Mr. Zhang began to serve as Director of the State Key Laboratory of Microbial Technology at Shandong University upon returning to China. In 2020, he was elected as a member of the German National Academy of Engineering (i.e. acatech).

Mr. Zhang did not hold any directorship in other listed public companies nor did he hold any other positions with the Company and any of its subsidiaries in the past three years immediately preceding the date of this announcement. As at the date of this announcement, Mr. Zhang does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), nor does he have any relationship with any Directors, senior management, substantial Shareholders or controlling Shareholders of the Company.

Mr. Zhang has entered into a service agreement with the Company commencing from 1 April 2021 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. Zhang will be entitled to a director's fee of RMB100,000 per annum which is determined by the Board with reference to the duties and responsibilities concerned.

Mr. Zhang 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. Zhang 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.

- 2 -

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

By order of the board

Fufeng Group Limited

Li Xuechun

Chairman

Hong Kong, 31 March 2021

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

- 3 -