The board of directors of China Zhongwang Holdings Limited announced that Mr. Wong Chun Wa has resigned as an independent non-executive director of the Company and the chairman of the audit committee of the Board, Mr. Lo Wa Kei, Roy has resigned as an Independent Non-executive Director and the chairman of the corporate governance committee of the Board and a member of each of the audit committee and the nomination and remuneration committee of the Board, and Mr. Shi Ketong has resigned as an Independent Non-executive Director and the chairman of the nomination and remuneration committee of the Board and a member of each of the audit committee and the corporate governance committee of the Board. The resignations of Mr. Wong and Mr. Lo will be effective October 14, 2021 and the resignation of Mr. Shi will be effective October 15, 2021. Both Mr. Wong, Mr. Lo and Mr. Shi resigned due to their intention to devote more time on their other personal affairs.