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CHINA ART FINANCIAL HOLDINGS LIMITED
中 國 藝 術 金 融 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1572)
CHANGE OF CHIEF EXECUTIVE OFFICER
AND APPOINTMENT OF CHIEF FINANCIAL OFFICER
CHANGE OF CHIEF EXECUTIVE OFFICER
The board of directors (the "Board") of China Art Financial Holdings Limited (the "Company") announce that Mr. Fan Zhijun ("Mr. Fan") has stepped down from his role as Chief Executive Officer of the Company due to other work arrangement, with effect from 14 April, 2021. Mr. Fan will remain as an Executive Director and Chairman of the Company. The Board considers that the resignation of Mr. Fan as Chief Executive Officer of the Company can enhance the corporate governance of the Group by splitting the roles of the Chairman and the Chief Executive Officer in compliance with the Corporate Governance Code as set out in Appendix 14 to the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").
Mr. Fan has confirmed that he has no disagreements with the Board and that there is no other matter in connection with his resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange.
Upon Mr. Fan's resignation as the Chief Executive Officer, Mr. Tong Zaan San ("Mr. Tong") has been appointed as the Chief Executive Officer with effect from 14 April 2021.
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The biographical details of Mr. Tong are set out below:
Mr. Tong, aged 42, obtained his bachelor's degree in finance from Hunan University of Finance and Economics in June 1998. He obtained his MBA degree from Pacific States University in June 2000. Mr. Tong joined Xiangcai Securities Co., Ltd. and held the positions of customer manager, department head and director between March 2001 and December 2012. He served as an executive director of Zhonghan International Holding Group Co., Ltd. from April 2013 to April 2016. Mr. Tong worked in Lloyds TSB Financial Group Ltd. in the United Kingdom from 2017 to 2018. He was appointed as Executive Director of Lloyds (China) Investment Co., Ltd. and was fully responsible for the investment business in China from 2018 to 2019. Mr. Tong has been an executive director of Zhonghan Yaxin Asset Management Co., Ltd., (a Chinese private equity fund management company), from September 2017 to July 2019. He also served as the chairman of China National Nuclear (Shenzhen) Energy Technology Co., Ltd., a state-owned enterprise in China, from January 2018 to August 2020.
Mr. Tong also obtained the fund management qualification of Asset Management Association of China and Certified Financial Analyst (CFA) qualification of China Financial Analysis Institute.
Mr. Tong has entered into a service agreement with the Group for an initial term of three years commencing from 14 April 2021, which shall be renewable for successive terms of each one year. He is entitled to an annual emolument of HK$950,000 which is determined with reference to his duties and responsibilities with the Company and prevailing market conditions.
Save as disclosed above, Mr. Tong (i) does not, nor did he in the past three years, hold directorships in any public companies the securities of which are listed on any securities market in Hong Kong or overseas or other major appointments and professional qualifications; (ii) does not have any relationships with any other Directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company; and (iii) does not have any interest in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Save as disclosed above, there is no other information that needs to be brought to the attention of the shareholders of the Company and there is no other information relating to Mr. Tong which is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.
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APPOINTMENT OF CHIEF FINANCIAL OFFICER
The Board further announces that Mr. Jiang Hao ("Mr. Jiang") has been appointed as the Chief Financial Officer with effect from 14 April 2021. The biographical details of Mr. Jiang are set out below:
Mr. Jiang, aged 44, graduated from Fudan University with a bachelor's degree in economics in 1999. He is a fellow member of the Association of Chartered Certified Accountants (FCCA).
Mr. Jiang worked in the International Business Department of China Construction Bank Dalian Branch from July 1999 to July 2001, and from March 2004 to April 2008, he worked in ZTE Co., Ltd., a company listed on the Shenzhen Stock Exchange (stock code: 000063) and main board of the Stock Exchange (stock code: 763) respectively, as senior financing manager of the international financing department. Mr. Jiang worked in Sinogiant investment holding group as Chief Financial Officer from April 2008 to December 2015 and worked as chairman and general manager of Shenzhen Qianhai Baotai Xingye Investment Management Co., Ltd. from December 2015 to May 2019. From May 2019 to November 2019, he was the chief financial officer of IDT International Ltd, a company listed on the main board of the Stock Exchange (stock code: 167).
Mr. Jiang has 20 years of experience in financial management, capital operation, private equity fund, venture capital fund operation and rich overseas working experience.
The Board would like to take this opportunity to express its gratitude to Mr. Fan for his efforts and valuable contributions to the Group and also welcome Mr. Tong and Mr. Jiang for their new role as the Chief Executive Officer and Chief Financial Officer respectively of the Company.
By order of the Board
China Art Financial Holdings Limited
Fan Zhijun
Chairman
Hong Kong, 14 April 2021
As at the date of this announcement, the Board comprises (1) Mr. Fan Zhijun and Mr. Li Cheng as the executive Directors and (2) Mr. Leung Shu Sun, Sunny, Mr. Liu Jian and Ms. Yin Xu Hong as the independent non-executive Directors.
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