The board of directors of Larry Jewelry International Company Limited announced that: 1. Mr. Shum Lok To has tendered his resignation as an independent non-executive Director as he would like to spend more time pursuing his own business. Following the resignation, Mr. Shum will also cease to be the chairman of the audit committee (the "Audit Committee") and a member of each of the nomination committee (the "Nomination Committee") and the remuneration committee of the Company; 2. Mr. Ong Chi King has tendered his resignation as an independent non-executive Director as he would like to spend more time pursuing other business opportunities and engagements. Following the resignation, Mr. Ong will also cease to be the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee; 3. Mr. Chung Kwok Pong ("Mr. Chung") was appointed as an independent non-executive Director, a member of each of the Audit Committee, the Nomination Committee and the Remuneration Committee; 4. Mr. Ke Jun ("Mr. Ke") was 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 5. Mr. Lin Qiu Fa, an independent non-executive Director, was appointed as the chairman of the Audit Committee, all with effect from 1 October 2019. Mr. Chung, aged 44, has extensive experience in the retailing industry. Mr. Chung is currently a self-owner of a trading company in China engaged mainly in retailing and international trading. Mr. Ke, aged 42, graduated from Guangzhou University with a bachelor's degree in business administration. Mr. Ke had been a sales manager of Juntianhui Shopping Mall ("Juntianhui") in Guangzhou and is currently an executive general manager of Juntianhui.