Sheng Yuan Holdings Limited announce that, in order to focus on her other personal and business commitments, Ms. Wen Han Qiuzi (``Ms. Wen'') has tendered her resignation as the independent non-executive Director, a member of the remuneration committee of the Board and a member of the nomination committee of the Board (the ``Nomination Committee'') with effect from 1 September 2022. Following the resignation of Ms. Wen: the Company has two independent non-executive Directors and the number of independent non-executive Directors will fall below the minimum number required under Rule 3.10(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ``Listing Rules''); and the Nomination Committee has two members, one of whom (being the chairman) is the chairman of the Board, and hence the Company does not meet all the requirements of Rule 3.27A of the Listing Rules as the Nomination Committee does not comprise a majority of independent non-executive Directors as members.