The board of directors of China Overseas Nuoxin International Holdings Limited announces that: Ms. Pauline Lam has tendered her resignation as executive Director with effect from 30 July 2023 as she intended to devote more time to her other business engagements; Mr. Lin Liangyong has tendered his resignation as executive Director with effect from 30 July 2023 as he intended to devote more time to his other business engagements; and Mr. Lam Yick Man has tendered his resignation as independent non-executive Director (the "INED"), the chairman and a member of the audit committee of the Company (the "Audit Committee"), a member of the nomination committee of the Company (the "Nomination Committee") and a member of the remuneration committee of the Company (the "Remuneration Committee") with effect from 30 July 2023 as he intended to devote more time to his other business engagements. CHANGE OF BOARD COMMITTEE CHAIRMAN AND MEMBER: Following the resignation of Mr. Lam, Mr. Ma Yu-heng, the INED, will be appointed as the chairman and a member of the Audit Committee, a member of the Nomination Committee and a member of the Remuneration Committee, with effect from 30 July 2023.