The board of directors of Cosmo Lady (China) Holdings Company Limited announces that with effect from 30 November 2021, (i) Mr. Siu Ka Lok ("Mr. Siu") has resigned from his position as the chief executive officer (the "CEO") and as an executive director of the Company to pursue other developments, and (ii) Mr. Zheng Yaonan ("Mr. Zheng") has been appointed as the CEO of the Company. Mr. Siu has confirmed that he has no disagreement with the Board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Mr. Zheng, aged 46, is the chairman of the Board, an executive director, the chairman of the nomination committee, and a controlling shareholder of the Company. Mr. Zheng, aged 46, is the chairman of the Board, an executive director, the chairman of the nomination committee, and a controlling shareholder of the Company.