The board (the "Board") of directors (the "Directors") of Raymond Industrial Limited (the "Company") announced that Dr. Wong, Wilson Kin Lae ("Dr. Wilson Wong") has been re- designated from an executive Director to a non-executive Director and ceased to be the chairman of the Board (the "Chairman") with effect from 10 December 2021. Dr. Wilson Wong is the father of Dr. Wong, Raymond Man Hin ("Dr. Raymond Wong"), the deputy executive Chairman and an executive Director of the Company, the uncle of Mr. Wong, John Ying Man ("Mr. John Wong"), an executive Director of the Company and Mr. Wong, Daivd Ying Kit ("Mr. Daivd Wong"), a non-executive Director of the Company. The Board further announces that Dr. Raymond Wong has been re-designated as the Chairman with effect from 10 December 2021.