Dragon King Group Holdings Limited (Stock Code: 8493) Announces Director Appointment, Board Committee Changes, and Non-Compliance with GEM Rules

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Dragon King Group Holdings Limited (the “Company”) has appointed Mr. Yu Kwan Tseung Alvin as an independent non-executive director, effective 1 December 2025. According to the announcement dated 28 November 2025, he will also serve as chairman of the Audit Committee and chairman of the Nomination Committee, as well as a member of the Remuneration Committee starting the same date.

Mr. Yu, aged 49, holds a bachelor’s degree in science (accounting and finance) from the University of Maryland, College Park, in the United States. He is a member of the American Institute of Certified Public Accountants and has gained extensive experience in various financial and management roles since beginning his career at KPMG, LLP in Washington, DC. He has most recently served as financial controller at Golden Square Commercial Trade Group since October 2015, and he has previously held executive roles in other listed companies.

Mr. Yu will enter into a service agreement with the Company for an initial term of two years. He will assume his role until the first general meeting following his appointment, subject to retirement and re-election in accordance with the Company’s articles. His remuneration is set at HK$120,000 per annum, subject to annual review by the Remuneration Committee and the Board.

The announcement further indicates that following Mr. Yu’s appointment, the Company will have only two independent non-executive directors and two Audit Committee members. This does not comply with Rule 5.05(1) and Rule 5.28 of the GEM Listing Rules, which require at least three independent non-executive directors and a minimum of three Audit Committee members. The Company intends to rectify these issues by identifying suitable candidates within three months from the announcement date.

As of the date of the announcement, the Board comprises three executive directors—Mr. Chan Yuen Lung Alfred, Mr. Li Tao, and Ms. Tang Po Yee Joey—and two independent non-executive directors—Mr. Chow Yik and Mr. Yu Kwan Tseung Alvin.