Announcement • Jul 17
EPI (Holdings) Limited Announces Board and Committee Changes, Effective July 17, 2026 EPI (Holdings) Limited announced that with effect from July 17, 2026, Ms. Jiao Jie resigned as Independent Non-executive Director of the Company and ceased to be the Chairlady of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee of the Company. Ms. Jiao resigned as Independent Non-executive Director of the Company as she needed to devote more time to her other business engagements. Ms. Ji Wenting has been appointed as Independent Non-executive Director of the Company and appointed to be the Chairlady of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee of the Company. Ms. Ji, aged 51, holds a Bachelor of Economics degree and a Master of Economics degree from Nankai University in the People’s Republic of China. Ms. Ji is a member of The Chinese Institute of Certified Public Accountants and a member of the Association of Chartered Certified Accountants. Ms. Ji has extensive experience in financial management, corporate finance, and accounting. She is currently the chief financial officer of Cheche Group Inc., a company listed on the NASDAQ. Ms. Ji served as the chief financial officer of Xiaoyezi Music Technology Group from July 2022 to August 2023. Prior to that, she served as the chief financial officer of Quhuo Limited, a company listed on the NASDAQ, from January 2019 to July 2022, and also as the director of the same company from June 2021 to July 2022. Ms. Ji also held the position of chief financial officer at Delsk Group from July 2017 to December 2018 and served as the vice president of finance at Yoyi Digital from January 2012 to July 2017. From May 2007 to January 2012, Ms. Ji served as the financial reporting director at SouFun Holdings Limited (now known as Fang Holdings Limited), a company previously listed on the New York Stock Exchange. Currently, Ms. Ji is an independent non-executive director of QingSong Health Corporation, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, since her appointment on April 17, 2026. Ms. Ji has entered into a letter of appointment with the Company in relation to her position as an independent non-executive director of the Company. According to the letter of appointment, Ms. Ji’s term of service is fixed at a term of twelve-month period which automatically renews for successive twelve-month periods unless terminated by either party in writing prior to the expiry of the term. The directorship of Ms. Ji is subject to retirement by rotation and re-election pursuant to the Bye-laws of the Company. The Board also announces that with effect from 17 July 2026: following the resignation of Ms. Jiao as Independent Non-executive Director of the Company, Ms. Jiao ceased to be the Chairlady of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee of the Company; and following the appointment of Ms. Ji as Independent Non-executive Director of the Company, Ms. Ji has been appointed as the Chairlady of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee of the Company. Announcement • Jun 04
EPI (Holdings) Limited, Annual General Meeting, Jun 30, 2026 EPI (Holdings) Limited, Annual General Meeting, Jun 30, 2026, at 10:00 China Standard Time. Location: plaza 3, basement 3, novotel century hong kong, 238 jaffe road, wanchai, Hong Kong New Risk • May 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). High level of non-cash earnings (32% accrual ratio). Shareholders have been substantially diluted in the past year (200% increase in shares outstanding). Minor Risk Market cap is less than US$100m (HK$464.4m market cap, or US$59.3m). 
