China Technology Announces Appointment of New Independent Director and respective Committees
of the Board of Directors, and Receipt of Audit Committee Deficiency/Compliance Letter from
HONG KONG, March 7, 2007 — China Technology Development Group Corporation ( Nasdaq:
CTDC; “CTDC” or the “Company”) today announced the followings:
Mr. Yu Keung Poon was appointed as an Independent Director to replace Mr. Meng Wan.
The Company announced today that Mr. Meng Wan tendered his resignation and resigned as an
independent director on March 2, 2007 with immediate effect. The Nomination Committee vetted
and nominated, on March 2, 2007, Mr. Yu Keung Poon as an independent director to fill the casual
vacancy resulted from Mr. Meng Wan’s resignation. The Board of Directors passed and approved by
way of written resolution on March 2, 2007, the nomination of Mr. Yu Keung Poon and appointed
Mr. Yu Keung Poon to serve as an independent director of the Company, and such appointment shall
end at the next annual meeting of members.
Mr. Poon, aged 42, currently serves as the Financial Controller and Company Secretary to Jiuzhou
Development Company Limted (“Jiuzhou”) (HKSE Code: 00908). He is a Certified Public
Accountant of the Hong Kong Institute of Certified Public Accountants and a fellow member of the
Association of Chartered Certified Accountants in England. Prior to joining Jiuzhou, Mr. Poon had
worked in Ernst & Young Hong Kong and had assumed the accounting and financial management
positions in a number of China affiliated and multinational companies. His extensive experience in
auditing and financial management will help the Company in further strengthening its financial
management and internal control systems.
Mr. Poon commented, “I am delighted to join the board. As an independent director of the
Company, I would like to help strengthening the Company’s corporate governance and internal
“We are pleased to welcome Mr. Yu Keung Poon as our new independent director”, Mr. Ch