The board of directors of Polyfair Holdings Limited (the Company) announced that Mr. Man Yun Yee (Mr. Man) has been appointed as an independent non-executive Director, the chairman of the remuneration committee (the Remuneration Committee) and a member of the audit committee (the Audit Committee) and nomination committee of the Company with effect from 12 February 2020. Mr. Man, aged 67, has approximately 40 years of experience in auditing, accounting and management. He is currently an engagement partner of Dickson W. P. Mak & Co., a certified public accountants firm in Hong Kong. He first joined Dickson W. P. Mak & Co. in May 2009 and served as a senior auditor from May 2009 to April 2012 and from February 2015 to April 2016, and he has become an engagement partner since May 2016. Mr. Man has entered into a letter of appointment with the Company for a term of three years commencing from 12 February 2020. Mr. Man shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re-election in accordance with the articles of association of the Company. He will also be subject to retirement by rotation and re-election in accordance with the articles of association of the Company.