The board of directors of Neway Group Holdings Limited announced that Mr. Lai Sai Wo, Ricky has tendered his resignation as (i) an independent non-executive Director; (ii) a member of the audit committee of the Board (Audit Committee); and (iii) a member of the remuneration committee of the Board (Remuneration Committee) with effect from 30 June 2023 as he intended to devote more time to his other business engagements. Following the resignation of Mr. Lai, the Board comprises seven members, including two executive Directors, three non-executive Directors and two independent non-executive Directors, which is non-compliant with Rules 3.10(1) and 3.10A of the Listing Rules.