The Board of Directors of HRnetGroup Limited announced that the Company has incorporated a wholly-owned subsidiary in Singapore known as HR Investment 1 Pte. Ltd. with an issued and paid-up share capital of SGD 1.00 comprising 1 ordinary share. The principal activity of HRI1PL is investment holding. The incorporation of HRI1PL was funded through internal resources and is not expected to have any material impact on the Company's earnings per share or net tangible assets per share for the current financial year ending 31 December 2018.