Huafang Group Inc. announces that Mr. Jiao Yang ("Mr. Jiao") has tendered his resignation as the joint company secretary and vice president of the Company in order to devote more time on other career development, with effect from May 25, 2023. Mr. Jiao has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and/or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). After Mr. Jiao's resignation, another joint company secretary of the Company, Ms. Lai Janette Tin Yun, who possesses the qualifications and experience as a company secretary as required under Rule 3.28 of the Rules Governing the Listing of Securities on the Stock Exchange, will remain in office and serve as the sole company secretary of the Company.