The board (the "Board") of directors (the "Director(s)") of the Group announces that Ms. Yu Lin has tendered her resignation as an independent non-executive Director and ceases to be a chairman of the Remuneration Committee ("Remuneration Committee"), a member of each of the nomination committee of the Company ("Nomination Committee") and the audit committee of the Company ("Audit Committee"), with effect from 26 October 2023 due to her other business commitments which require more of her attention and dedication. The Board announces that Ms. Kai Xiang Mei ("Ms. Kai") has been appointed as an executive Director with effect from 26 October 2023. Ms. Kai Xiang Mei, aged 44, has extensive experience and resources in the women's apparel and healthcare industries.

Ms. Kai is the founder of Yue Bao Garment Co. Ltd. and currently serves as the chairman of Zansheng Zhongmeisel Biotechnology Limited. The Board announces that Mr. Lam Chi Wing ("Mr. Lam") has been appointed as an independent non-executive Director with effect from 26 October 2023.

Mr. LAM Chi Wing ("Mr. Lam"), aged 43, obtained a bachelor of business administration in accounting and finance degree from The University of Hong Kong in December 2003, a master of science in knowledge management degree from The Hong Kong Polytechnic University in December 2006 and a master of business administration degree from The Chinese University of Hong Kong in December 2010. He is currently a postgraduate of the executive master in Public Administration Hong Kong Administrative Talents Programme conducted by the School of Public Policy & Management at Tsinghua University Mr. Lam joined Li & Fung Group in September 2003, where he served as the group chief representative and general manager of Southern China of Li & Fung Development (China) Limited prior to his departure in July 2015. From June 2020 to December 2020, he was a brand and new retail strategic officer of Bonjour Holdings Limited.