The board of directors of SIM Technology Group Limited announced that, with effect from 18 August 2023, Ms. Yeung Man Ying ("Ms. Yeung") has resigned as the chairman of the Company ("Chairman") due to her commitments to the Shanghai Sunrise Charity Foundation which require more of her time ("Resignation"). Following her Resignation, Ms. Yeung will continue to serve as an executive Director. The Board also announces that with effect from 18 August 2023, Mr. Wong Cho Tung, an executive Director, has been appointed as the Chairman ("Appointment") in place of Ms. Yeung. Mr. Wong, aged 79, is an executive Director, a member of the remuneration committee ("Remuneration Committee") and nomination committee of the Board, and the president of the Group. Mr. Wong is responsible for formulating the direction and strategies of the Group and the development plan of any new business of the Group. He is also a director of a number of subsidiaries of the Company. Mr. Wong graduated from the Beijing University of Aeronautics and Astronautics (currently known as Beihang University) in 1968, specialising in electrical engineering. He has decades of experience in the electrical, electronics and telecommunications industry. Mr. Wong together with his spouse Ms. Yeung were the founders of the Company. Mr. Wong is the director of Info Dynasty Group Limited ("Info Dynasty") and Intellipower Investments Limited, both of which are substantial Shareholders (having the meaning ascribed to it under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules")).
Mr. Wong is the father of Mr. Wong Hei, Simon, a non-executive Director. Mr. Wong is a controlling Shareholder (having the meaning ascribed to it under the Listing Rules) and a controlling shareholder of Info Dynasty.