The board of directors of PW Medtech Group Limited announced that Mr. Jiang Liwei has resigned as the chief executive officer and has been re-designated from an executive director to a non-executive director of the Company with effect from 31 March 2019, as he would like to spend more time on his personal business. The Board also announces that Ms. Yue'e Zhang has been appointed in replacement of Mr. Jiang to act in the following capacities of the Company with effect from 31 March 2019: the chief executive officer; agent for the service of process and notices on behalf of the Company in Hong Kong as required under Rule 19.05(2) of the Rules Governing the Listing of Securities (the ``Listing Rules'') on the Stock Exchange; and authorized representative pursuant to Rule 3.05 of the Listing Rules. Ms. Yue'e Zhang, aged 55, is the chairman of the Board, an executive director and the chairman of the nomination committee of the Company.

She is also a director of certain subsidiaries of the Company. In addition to her roles with the Group, Ms. Zhang currently serves as a director of China Biologic Products Holdings Inc. and the executive director of WP Medical Technologies Inc. She is also one of the early founders of Lepu Medical Technology (Beijing) Co. Ltd. Ms. Zhang has worked in the medical device industry for nearly 30 years and has accumulated considerable experience in product design, research and development, and management and investment.

Mr. Jiang Liwei, aged 51, is an executive director and the chief executive officer of the Company before his re-designation as a non-executive director of the Company. Mr. Jiang has over 20 years of management experience in the medical device industry. Prior to joining the Group in February 2013, Mr. Jiang was the head of China for Biomet China Co.

Ltd. from 2008 to 2013 and the general manager of Trauson (China) Medical Instrument Co. Ltd. from 2005 to 2008.