The board of directors of Hephaestus Holdings Limited announces that, with effect from 4 March 2022, Mr. Chan Norman Enrique (Mr. Chan) has resigned as the chairman, an executive Director, the compliance officer and an authorised representative of the Company under Rule 5.24 of the Rules Governing the Listing of Securities (the GEM Listing Rules) on the Growth Enterprise Market (GEM') of The Stock Exchange of Hong Kong Limited (Stock Exchange') due to other commitments which require more of his dedications. Mr. Lee Alex Kam-fai has resigned as an executive Director and an Authorised Representative of the Company due to other commitments which require more of his dedications; Mr. Kwong U Hoi Andrew (Mr. Kwong') has resigned as an independent non-executive Director, the chairman of the remuneration committee (Remuneration Committee') and a member of each of the audit committee (Audit Committee') and the nomination committee (Nomination Committee) of the Board due to other commitments which require more of his dedications; Mr. Wong Jonathan has resigned as an independent non-executive Director, the chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee due to other commitments which require more of his dedications; Mr. Chi Chi Hung Kenneth has resigned as an independent non-executive Director, the chairman of the Audit Committee and a member of each of the Nomination Committee and the Remuneration Committee due to other commitments which require more of his dedications; Mr. Tang Chi Chiu resigned as the company secretary of the Company due to other commitments which require more of his dedications; and Mr. Yeung Sai Cheong resigned as the financial controller of the Company due to other commitments which require more of his dedications. The Board also announces that, with effect from 4 March 2022: Mr. Huang Liang has been appointed as the chairman of the Board, and an executive Director; Ms. Lou Yi has been appointed as an executive Director and an Authorised Representative; Mr. Luk Chi Shing has been appointed as an independent non-executive Director, the chairman of the Audit Committee and a member of each of the Nomination Committee and the Remuneration Committee; Mr. Lee Man Chun has been appointed as an independent non-executive Director, the chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee; Mr. Zheng Yuqiang has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee; and Ms. Kwong Oi Man Patty has been appointed as the Company Secretary and an Authorised Representative.