The board of Prosperity Investment Holdings Limited announced Mr. Cheng Hairong will resign as executive Director, chairman of the Board, chairman of nomination committee and managing Director with effect from 21 May 2021 due to personal reason. Mr. Lau Tom Ko Yuen, a non-executive Director and deputy chairman of the Company, will be re-designated as an executive Director and appointed as chairman of the Board, chairman of nomination committee and managing Director with effect from 21 May 2021. Mr. Cheng confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that will need to be brought to the attention of the shareholders of the Company ("Shareholders").