The board of directors of Citychamp Watch & Jewellery Group Limited announced that as Mr. Shang Jianguang (Mr. Shang) intends to allocate more time in his other matters, he has resigned as Executive Director of the Company with effect from 5 January 2022. Accordingly, Mr. Shang has also ceased to be a member of the nomination committee (the Nomination Committee) and a member of the remuneration committee (the Remuneration Committee) of the Company with effect from the same date. The Board further announced that as Mr. Lam Toi Man (Mr. Lam) intends to allocate more time in his other matters, he has resigned as Executive Director of the Company with effect from 5 January 2022. Accordingly, Mr. Lam has also ceased to be a member of the risk management committee (the Risk Management Committee) of the Company with effect from the same date. Mr. Lam has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation which needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. Mr. Siu Chun Wa has been appointed as Executive Director of the Company, a member of the Nomination Committee and a member of the Remuneration Committee; and Mr. Hao Xiaohui has been appointed as Executive Director of the Company, and a member of the Risk Management Committee. Mr. Siu, aged 59, holds a master's degree in management from Dongbei University
of Finance and Economics in China. Mr. Siu has extensive knowledge and rich experience in corporate and investment management. Mr. Siu successively served as the assistant to president, director, vice president and secretary to the board of directors of First Capital Securities Co. Ltd. Mr. Siu has entered into a service contract with the Company for an initial term of two years commencing from 5 January 2022, which is automatically renewed for successive terms unless it is terminated by either party by giving not less than two months written notice. Mr. Hao, aged 57, has extensive experience in domestic and international investment and financing management. Mr. Hao has spent many years engaging in international trade, international finance, investment banking and other financial businesses and is specialized in private education investment and financing business. Hao served as the president and chairman of Yuanyin International Limited. From September 2020 to February 2021, Mr. Hao served as non-executive director and vice chairman of the board of director at China Chunlai Education Group Co. Ltd.