The board of directors of Prosperous Industrial (Holdings) Limited announced that Mr. Duong Stephen Dien Sieu ("Mr. Duong") has resigned as an executive Director and also ceased as authorised representatives of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Exchange") (the "Listing Rules") and the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (collectivelly, the "Authorised Representatives"), with effect from 31 March 2020 due to his other personal commitments which require more of his dedication, and Mr. Duong remains as finance director of a subsidiary of the Company. The Board announced that Mr. Yeung Wang Tony ("Mr. Yeung") has been appointed as an executive Director and the Authorised Representatives with effect from 31 March 2020 (the "Appointment of Mr. Yeung"). Mr. Yeung, aged 46, joined the Group in January 2000 and is also a director of certain subsidiaries of the Group. He has been a project director of the Company since 1 September 2017 and is responsible for overseeing the retail business and projects of the Group. The Board announced that Mr. Lu Chin-Chu ("Mr. Lu") has resigned as a non-executive Director with effect from 31 March 2020 due to his other personal commitments which require more of his dedication, and he remains as a director of certain subsidiaries of the Company. Mr. Lu has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that ought to be brought to the attention of the Exchange and the shareholders of the Company. The Board announced that Mr. Chau Chi Ming ("Mr. Chau") has been appointed as a non-executive Director with effect from 31 March 2020 (the "Appointment of Mr. Chau"). Mr. Chau, aged 56, is a senior director of Finance & Treasury Department of Yue Yuen Industrial (Holdings) Limited (" Yue Yuen "), responsible for daily financial management and treasury functions. He is also a director of certain subsidiaries of Yue Yuen. He was the company secretary of Yue Yuen (the "Company Secretary") from 12 January 2014 to 23 March 2016 and has been reappointed as the Company Secretary since 31 July 2019. Mr. Chau had worked in an international bank and gained corporate banking experience before joining Yue Yuen in 1993.