The board of directors of Nanfang Communication Holdings Limited announced that Mr. Lam Chi Keung ("Mr. Lam") has tendered his resignation as an independent executive Director of the Company, the chairman of the audit committee (the "Audit Committee") and a member of the nomination committee (the "Nomination Committee") of the Company with effect from 12 December 2022, in order to devote more time to his other personal commitments. Mr. Lam has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation of term of appointment that needs to be brought to the attention of the shareholders of the Company. The Board announced that Mr. Liu Cheng Yi will be appointed as an independent non-executive director of the Company with effect from 12 December 2022.

His biography is set out below: Mr. Liu Cheng Yi ("Mr. Liu"), aged 57, obtained a bachelor of science degree in physics from the Soochow University, Taiwan in 1988 and a master of science degree in finance and economics from the West Texas A&M University, the United States of America, in 1995. He is a responsible officer under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) for Type 1 (dealing in securities), Type 4 (advising on securities), and Type 9 (asset management) activities. He also obtained advanced qualifications from each of the Securities Association of China and the Taiwan Securities Association.

Mr. Liu has over 20 years of experience in equity fund management, corporate finance and securities and futures trading industries. Mr. Liu is currently the chairman at Shining Financial Holdings since 2021 and a responsible officer at New Asia Ferrell Asset Management Limited since 2022. He has held senior positions at various financial institutions in Hong Kong, including China Zhong Heng Finance Group Limited, JMC Capital HK Limited, Fosun Hani Securities Limited and Huatai Financial Holdings (Hong Kong) Limited.

The Board also announced that, with effect from 12 December 2022, Mr. Chan Kai Wing has been appointed as the chairman of the Audit Committee, and Mr. Liu has been appointed as a member of each of the Audit Committee and the Nomination Committee.