The board of directors of Hua Medicine announced with its deepest sorrow that Mr. Walter Teh-Ming Kwauk ("Mr. Kwauk"), an independent non-executive director of the Company, has passed away today. Mr. Kwauk had been an independent non-executive director of the Company since 2018. Mr. Kwauk made invaluable contribution to the Company during his tenure of office.

The Board would like to express its sincere gratitude to Mr. Kwauk for his dedication and wish to convey its condolences to his family. Mr. Kwauk also served as the Chairman of the Audit Committee and was a member of the Remuneration Committee of the Company. Following Mr. Kwauk's passing away, the number of members who are independent non-executive directors in the Audit Committee of the Company will be reduced to two, which falls short of the requirement under Rule 3.21 of the Listing Rules where a minimum of three members, at least one of whom is an independent non-executive director with appropriate professional qualifications or accounting or related financial management expertise as required under Rule 3.10(2).