YONGMAO - Key Persons

Job Titles:

• Chairman
• Independent Director
• Member of the Board of Directors
• Non - Executive Director

Dr Steve Lai Mun Fook is one of our Independent Directors and was appointed to our Board on 28 December 2007. He is also currently a Director on the Board of the publicly listed Intraco Ltd and Vertex Technology Acquisition Corporation Ltd, as well as a number of other private limited Singapore companies. From November 2007 to August 2012, Dr Lai was the Chief Executive Officer of PSB Academy Pte Ltd. Dr Lai was previously the Deputy Chief Executive Officer of TUV SUD PSB Corporation and PSB Corporation Pte Ltd from April 2006 to March 2007 and from April 2001 to March 2006, respectively. From April 1996 to March 1998, Dr Lai was the General Manager (Standards & Technology) of Singapore Productivity & Standards Board. Dr Lai holds a Bachelor of Science (Hons) in Industrial Chemistry and a PhD from the Loughborough University of Technology, United Kingdom. The profiles of the Directors including their academic and professional qualifications, Board Committees served, directorships or chairmanships for present and past held over the preceding three years in other listed companies and other appointments are set out on pages 15 to 17 and pages 30 to 31 of this Annual Report. The Board's structure, size and composition are reviewed annually by the NC with a view to determine the impact of its number upon effectiveness. The NC is of the view that the Board is of the appropriate size and with the right mix of skills and diverse expertise and experience given the nature and scope of the Group's operations. The Executive Directors have extensive experience in the crane manufacturing industry while the Non-Executive Directors are well established and competent in their respective professions. This balance is important in ensuring that the overall direction and strategies proposed by the Management are fully discussed and examined, taking into account the long-term interests of the Company. The NC has adopted the criteria on an Independent Director given in Provision 2.1 of the Code and Rule 210(5)(d) of the SGX-ST Listing Manual. All Directors are required to disclose any relationships or appointment which would impair their independence to the Board in a timely manner. The NC reviews annually the independence of each Director in accordance with the Code's definition of what element constitutes an Independent Director. The NC has reviewed the "Confirmation of Independence" forms completed by each Independent Director and is of the view that the three Independent Directors (who represent at least one-third of the Board) are independent, i.e, they have no relationship with the Company, its related companies, its substantial shareholders with shareholdings of 5% or more in the voting shares of the Company, or their officers that could interfere, or be reasonably perceived to interfere, with the exercise of the Director's independent business judgement with a view to the best interests of the Group, and they are able to exercise objective judgement on corporate affairs independently from the Management and the substantial shareholders with shareholdings of 5% or more in the voting shares of the Company. None of the Independent and Non-Executive Directors and their immediate family member are a substantial shareholder of or partner in or an executive officer of or a Director of, any organisation to which the Company or any of its subsidiaries made, or from which the Company or any of its subsidiaries received, significant payments or materials services aggregated over any financial year in excess of S$50,000 (to an individual) or S$200,000 (to a firm), which may include auditing, banking, consulting and legal services, in the current or immediate past financial year. The RC is established for the purposes of ensuring that there is a formal and transparent procedure for fixing the remuneration packages of individual Director. The overriding principle is that no Director should be involved in deciding his/her own remuneration, except in providing information and documents if specifically requested by the RC to assist in its deliberations. The RC meets at least once a year and at other times as required. Reviewing and recommending to the Board the remuneration packages and terms of employment of the Executive Directors and senior management or key management personnel; Reviewing and recommending to the Board the grant of share options schemes or any long-term incentive schemes which may be set up from time to time; The AC is established to assist the Board with discharging its responsibility to safeguard the Company's assets, maintain adequate accounting records and develop and maintain effective systems of internal control. The Board is of the view that the members of the AC are appropriately qualified in that they have sufficient accounting or related financial management expertise and experience to discharge its responsibilities properly The AC is governed by its terms of reference, which was reviewed and amended, where appropriate, to adopt relevant best practices set out in the Guidebook and the Code. Reviewing the audit plans of the Company's External Auditors, including the results of the Auditors' review and audit report, the management letter and the Management's response and evaluation of the Company's system of internal controls;

Job Titles:

• Chairman
• Lead Independent Director
• Non - Executive Director

Job Titles:

• Chairman of the Audit Committee
• Independent Director
• Member of the Board of Directors
• Non - Executive Director
• Independent Director for FY2023

Mr Hoon Chee Wai is one of our Independent Directors and was appointed to our Board on 2 September 2019. Mr Hoon has been a finance and banking professional for almost 30 years. Mr Hoon started his career in one of the Big-4 public accounting firm as an auditor from 1992 to 1994. From 1994 to 2012, Mr Hoon was an investment banker with various regional financial institutions in Singapore where he was involved in numerous initial public offerings on the Stock Exchange of Singapore, equity and debt fund raising exercises for publicly listed companies as well as advice on numerous mergers and acquisitions transactions. From 2012 to 2016, he became the senior vice president of corporate development of a hospitality, leisure and entertainment group listed on the Main Board of the Stock Exchange of Singapore. From 2017 to 2020, Mr Hoon was the head of finance and corporate development of a real estate developer and operator of integrated leisure and entertainment resorts listed on the Main Board of the Hong Kong Stock Exchange. He is currently the Chief Operating Officer of a mainboard listed company on the Stock Exchange of Singapore. Mr Hoon obtained his Bachelor of Accountancy from Nanyang Technological University, Singapore in May 1992. He has also completed an INSEAD Leadership Program from November 2010 to September 2011. He is currently also an independent director of a company listed on the Hong Kong Stock Exchange. He has been a member of the Singapore Institute of Directors since April 2019. In accordance with the definition in the Code, the Chairman of the NC has no relationship with the Company, its related corporations, its substantial shareholders with shareholdings of 5% or more in the voting shares of the Company or its officer that could interfere, or be reasonably perceived to interfere, with the exercise of his independent judgement in the best interest of the Company. The NC is established for the purposes of ensuring that there is a formal and transparent process for all board appointments. It has adopted written terms of reference defining its membership, administration and duties. The NC meets at least once a year and at other times as required. Making recommendations to the Board on the appointment of new Executive and Non-Executive Directors, including making recommendations on the composition of the Board generally and the balance between Executive and Non-Executive Directors appointed to the Board; Regularly reviewing the structure, size and composition of the Board having regard to the scope and nature of the operations and the core competencies of the Directors as a group and making recommendations to the Board with regards to any adjustments that are deemed necessary;

Job Titles:

• Member of the Management Team
• Production and Quality Control Manager

Mr Liu Xiao Ming is our Production and Quality Control Manager and is responsible for our Group's production process and production plans. Mr Liu joined our Group in August 2006. He was the head of the production department of Fushun Excavator Manufacturing Co., Ltd (抚顺挖掘机机械制造有限责任公司) and was the head of the sales department of Fushun Hydraulic Manufacturing Works (抚顺液压挖掘机制造厂) from December 2002 to August 2006 and from June 1999 to November 2002, respectively. Mr Liu was in charge of the production department of Beijing Juli Engineering Machinery Co., Ltd (北京巨力工程有限公司) from August 1998 to May 1999. From July 1996 to July 1998, Mr Liu was in charge of the technology department of Fushun Hydraulic Manufacturing Works (抚顺液压挖掘机制造厂) and prior to that, he was a technician of Fushun Excavator Manufacturing Works (抚顺挖掘机制造厂). Mr Liu graduated with a Bachelor of Engineering from Northeast Heavy Machinery College (东北重 型机械学院) in 1994.

Job Titles:

• Deputy Chairman
• Managing Director
• Member of the Board of Directors
• Non - Executive Director

Mr Ng San Tiong is our Deputy Chairman and Non-Executive Director and was appointed to our Board on 28 June 2007. Mr Ng is the Managing Director of one of the world's largest crane rental company Tat Hong Holdings Ltd and he is vastly experienced in the areas of corporate management, business development and business management. He sits on the board of Tat Hong Holdings Ltd as well as its regional subsidiaries and associates across Malaysia, Indonesia, Australia and China. He is also a director of CSC Holdings Limited, a foundation and geotechnical engineering company listed on the Stock Exchange of Singapore.

Job Titles:

• Executive Director
• Group General Manager
• Member of the Board of Directors
• Non - Executive Director

Mr Sun Tian started as a Non-Executive Director and was initially appointed to our Board on 31 December 2005. Subsequently in August 2009, he joined our Group as a Sales Manager and an Executive Director responsible for the Group's business development and sales to customers outside the PRC. In October 2012, he was appointed as Group General Manager assisting our Chief Executive Officer in the management of Group's business. Mr Sun graduated with a Diploma in Mechantronic Engineering from Ngee Ann Polytechnic in 2006. He was awarded the Motorola Silver Medal for being the second most outstanding graduate in the Diploma in Mechantronic Engineering course by Ngee Ann Polytechnic. In June 2009, Mr Sun graduated from National University of Singapore with a Bachelor's degree in Mechanical Engineering.

Job Titles:

• Chairman
• Executive Director
• Member of the Board of Directors

Mr Sun Zhao Lin is our Executive Chairman. He is the founder of our Group and was appointed to our Board on 3 August 2005. Mr Sun is responsible for the formulation and execution of overall business strategy and policies and future direction, as well as the overall management of our Group. He has more than 20 years' experience in the crane manufacturing industry. He started his career as a sales representative at Fushun No.4 Chemical Plant (抚顺市化工四厂). Mr Sun graduated from Liaoning Correspondence Party School (辽宁刊授党校) in 1998 having majored in Economics. In 2005, he was awarded the Professional Certificate of Specialty and Technology (Senior Engineer) (专业 技术职称证书 (高级工程师)) from the Liaoning Provincial Personnel Department (辽宁 省人事厅). In 2005, he received the Liaoning Province Outstanding Business Entrepreneur award (辽宁省优秀民营企业家) from the Liaoning Province Small-Medium Enterprise Association (辽宁省中小企业联合会). In 2006, Mr Sun received the "Model Labour Award for Year 2005" (2005年度劳动模范) and the "Liaoning Province Model Labour Award" from Shuncheng District People's Government (顺城区人民政府) and Liaoning Province People's Government (辽宁省人民政府) respectively. In 2011, he was awarded the Outstanding Contribution Award (抚顺市杰出贡献奖) by Fushun Municipal Government. (抚顺市政府) In 2012, he was awarded the Outstanding Contribution Award for the Year (2012年度支持商会建设突出贡献奖) by Fushun Municipal Association of Industry and Commerce/Fushun Municipal General Chamber of Commerce (抚顺市工商 业联合会/抚顺市总商会). In 2014, he was awarded the Outstanding Entrepreneurs Honorary Award (抚顺市优秀企业家荣誉称号) by Fushun City Federation of Trade Unions (抚顺市总工会). The Board noted that Provision 3.1 of the Code requires the Chairman and CEO to be separate persons in order to ensure appropriate balance of power, increased accountability and greater capacity of the Board for independent decision-making. Ms Tian Ruo Nan, spouse of Mr Sun Zhao Lin, is holding the position as CEO of the Company. She is one of the founders of the Group and is responsible for and oversees the day-to-day operations of the Group. As the CEO, she is involved in the day-to-day business of the Group and leads Management in setting strategies, objectives and implementations and is also responsible for the development and financial performance of the Group.

Job Titles:

• Deputy General Manager
• Member of the Management Team
• Deputy General Manager of Fushun Yongmao Construction Machinery Co

Mr Xu Guang Hui is our Deputy General Manager of Fushun Yongmao Construction Machinery Co., Ltd. and is responsible for assisting the Chairman/CEO and Group General Manager in overseeing the overall operation matters of the Group's Fushun plant in PRC. Mr Xu joined our Group in 2008. Prior to joining our Group, Mr Xu was the Chief Financial Officer of Liaoning North Investment Co., Ltd (辽宁北方投资有限公司) from 2004 to 2008. From 1989 to 2004 he was with Bank of China, Fushun Branch-Business Department (中国银行抚顺分行公司业务 部) first as a bank officer and rose to the post of General Manager. Mr Xu graduated from China Institute of Finance (中国金融学 院) with a bachelor's degree in finance in 1989.

Job Titles:

• Chief Financial Officer
• Member of the Management Team

Mr Yap Soon Yong is our Chief Financial Officer and is responsible for the financial and accounting functions of our Group. His responsibilities include overseeing matters relating to financial administration and the compliance and reporting obligations of our Group. Mr Yap joined our Group in July 2007. Mr Yap has more than 30 years working experience and has held senior financial positions in various companies. Prior to joining our Group, he was the Chief Financial Officer of China Marine Foods Group Pte Ltd from September 2006 to June 2007. From April 2005 to June 2006, he was with Oceanus Bio-tech Holdings Pte Ltd. From May 1996 to April 2005, Mr Yap was with York Transport Equipment (Asia) Pte Ltd where he started as a senior accountant and last held the post of financial controller. Mr Yap started his career in one of the Big-4 public accounting firm as an auditor from 1992 to 1996. Mr Yap obtained a bachelor's degree in accountancy from the Nanyang Technological University in 1992, and is currently a member of the Institute of Singapore Chartered Accountants.

Job Titles:

• Finance Manager
• Member of the Management Team

Mr Yu Hao Bo is our Finance Manager and is responsible for the financial and accounting functions of Fushun Yongmao Construction Machinery Co., Ltd. Mr Yu joined our Group in August 2005. Mr Yu started his career as an projects manager at Fushun Zhongtian Certified Public Accountants Co., Ltd (抚顺中天会 计师事务所有限公司) from July 1996 to July 2005. Mr Yu graduated with a degree in Management from Bohai University (渤海大学) in 2006 and is currently a member of The Chinese Institute of Certified Public Accountants.

Job Titles:

• Chief Executive Officer
• Executive Director
• Member of the Board of Directors

Ms Tian Ruo Nan is our Chief Executive Officer. She is a co-founder of our Group and was appointed to our Board on 28 December 2007. Ms Tian is responsible for and oversees the day-to-day management of our Group. She has more than 20 years' experience in the crane manufacturing industry. Ms Tian started her career as a laboratory technician at Fushun No.4 Chemical Plant (抚顺市化工四厂) in December 1977. Ms Tian graduated from Dongbei Normal University (东北师范大学) in 1999 having majored in Economics. She received the "Model Worker" (劳动模范) award for 2004 and 2005 from Shuncheng District People's Government (顺城区人民政府) and the "Fushun Foreign Investment Enterprise Outstanding Business Entrepreneur" award for 2006 and 2008 from Fushun Municipal People's Government (抚顺市人民政府). In 2008, she was awarded the "Bohai Region Outstanding Woman Entrepreneur Award" (环渤海区域杰出创业女性) by Liaoning Province Women's Federation (辽宁省妇联). In 2009, she was also awarded the "Top 10 Most Outstanding Woman Award" (十大杰出女性) by Fushun Municipal Women's Federation (抚顺市妇女联合会). In 2010, she was awarded the Woman's Award Winner (三八红旗手) by Liaoning Provincial Women's Federation (辽宁省妇联), "The Heroine" (巾帼英雄) award by Liaoning Provincial Trade Union (辽宁省总工会) and the Good builder of Socialism with Chinese characteristics (优秀中国特色社会主 义建设者) by Fushun Municipal Association of Industry and Commerce (抚顺市工商 联). In 2011, she was named the National Woman's Award Winner (全国三八红旗手) by the China Women's Federation (全国妇联). In 2012 she was also named "Supervisor of the Government's Work Style in Quality Supervision Bureau" (质量监督局风行监督 员). In 2013, she was awarded "National 1st May Women Pacesetter" (全国五一巾帼 标兵2013年) by the All-China Federation of Trade Union (中华全国总工会). In 2012 and 2014, she was named the Outstanding Leader in National Construction Machinery & Elevator Industry QC Group (全国建机与电梯行业质量管理小组活动卓越领导者) by the China Quality Association Construction Machinery Industry Branch (中国质协建 设机械行业分会).

Job Titles:

• Member of the Management Team
• Deputy General Manager ( Research & Development and Purchasing )
• Deputy General Manager of Fushun Yongmao Construction Machinery Co

Ms Wang Lian was appointed as our Deputy General Manager of Fushun Yongmao Construction Machinery Co., Ltd. on 8 May 2019, and is in charge of Research & Development. She is also responsible for the purchasing function of the Group. Ms Wang first joined Fushun Yongmao Construction Machinery Co., Ltd., as a Design Engineer in 2001 and was subsequently promoted to Engineering Supervisor and then to Chief Engineer in 2015. Ms Wang graduated from The Open University of China (中央 广 播电视大学) in 2009 having majored in Electric Automation. She also holds a Master in Engineering from Shenyang Jianzhu University

Job Titles:

• Member of the Management Team
• Group Sales and Marketing Manager

Ms Wang Xiu Xia was appointed as our Group Sales and Marketing Manager on 14 June 2023, and is in charge of the sales and marketing operations of the Group in PRC. Ms Wang first joined Fushun Yongmao Construction Machinery Co., Ltd ("FSYM"), a subsidiary of the Group in 2006 as Assistant Supervisor of International Sales and Marketing Division and was subsequently promoted to Departmental Head of Sales and Marketing of FSYM cum Personal Assistance to CEO in 2020. She holds a bachelor's degree in marketing from Liaoning Petrochemical University (辽 宁石油化工大学).