VC Holdings (00821) announced that Zhang Li has been appointed as an executive director, effective October 2, 2025. Following Zhang Li's appointment, the Board of Directors hereby announces that Zhang Li has also been appointed as Chairman of the Board, while Fu Yaowen will no longer serve as Chairman of the Board but will continue to serve as an executive director, effective October 2, 2025.

The Board announces that upon Zhang Li's appointment, Zhang Li has also been appointed as Chairman of the Executive Committee, while Fu Yaowen will no longer serve as Chairman of the Executive Committee but will continue to serve as a member of the Executive Committee, effective October 2, 2025.

The Board further announces that effective October 2, 2025, Fu Yaowen has ceased to act as an authorized representative of the Company pursuant to Rule 3.05 of the Rules Governing the Listing of Securities on the Main Board of The Stock Exchange of Hong Kong Limited, and Zhang Li has been appointed as an authorized representative, effective October 2, 2025.