The board of directors of Hong Kong Finance Group Limited hereby announces that Mr. Chan Siu Wing Raymond has tendered his resignation as independent non-executive Director of the Company and the chairman of the audit committee of the Company, both with effect from 1 November 2022 due to his desire to devote more time to his personal endeavours. Mr. Chan has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that would need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Board announced that Mr. Wong Kai Man has been appointed as an independent non-executive Director of the Company and a member of the Audit Committee, both with effect from 1 November 2022.

Mr. Wong, aged 55, has solid experience in global investment banking, corporate finance and executive management. Mr. Wong is currently a managing director, chief executive officer and company secretary of Mariner Corporation Limited, a company listed on the Australian Stock Exchange in Australia. He has obtained a Master of Business Administration from the Murdoch University in Australia in March 1998.

The Board announced that Ms. Chan Siu Chinghas been appointed as an executive Director of the Company with effect from 1 November 2022. Ms. Chan is the daughter of Mr. Chan Koung Nam who is the brother of Mr. Chan Kwong Yin William. Both Mr. KN Chan and Mr. William Chan are the executive Directors, and substantial and controlling shareholders of the Company (as defined under the Listing Rules).

The biographical details of Ms. Chan are as follows: Ms. Chan, aged 40, has joined the Group since July 2016. She currently serves as a business development director of the Group and is mainly responsible for the overall business development of the Group's money lending business. From October 2010 to July 2016, Ms. Chan acted as the managing director of another money lending company in Hong Kong.

Ms. Chan has obtained a Degree of Bachelor of Management in Tourism and Hospitality from University of Technology, Sydney in September 2005. She has also completed a programme in Executive Master of Business Administration and has obtained a Degree of Master of Business Administration from The Chinese University of Hong Kong in November 2015. The Board hereby announces the following changes in composition of the Audit Committee: (i) Following the resignation of Mr. Chan as the chairman of Audit Committee, Mr. Chu Yat Pang Terry, an existing independent non-executive Director, has been appointed as the chairman of the Audit Committee with effect from 1 November 2022; and (ii) Following the appointment of Mr. Wong as an independent non-executive Director of the Company, Mr. Wong has also been delegated as a member of the Audit Committee with effect from 1 November 2022.