Playmates Toys Limited announced that the Chairman of the Board, Mr. To Shu Sing, Sidney has tendered his resignation and will retire from his position as the Chairman and Executive Director of the Company with effect from 31 December 2021. The board further announced that Mr. Chan Kwong Fai, Michael ("Mr. Chan") has been appointed as an Executive Director with effect from 3 December 2021 and that he will be the succeeding Chairman of the Company with effect from 31 December 2021.