The board of directors of Hong Wei (Asia) Holdings Company Limited announced that Mr. Chan Tsang Mo ("Mr. Chan") has tendered his resignation as independent non-executive Director and ceased to be the chairman of the audit committee (the "Audit Committee") and member of each of the remuneration committee (the "Remuneration Committee") and nomination committee (the "Nomination Committee") of the Company with effect from 12 July 2023 so as to allow him to devote more time for his personal commitments. Following the resignation of Mr. Chan, the composition of the board committees of the Company has been changed as follows with effect from 12 July 2023: (a) Audit Committee: Dr. Xu Jianmin and Ms. Qian Xiaoyu; (b) Remuneration Committee: Dr. Xu Jianmin (Chairman) and Mr. Wong Cheung Lok; and (c) Nomination Committee: Mr. Wong Cheung Lok (Chairman) and Dr. Xu Jianmin. The Board further announced that following the resignation of Mr. Chan, the Company has two independent non-executive Directors only.