The board (‘Board') of directors of Success Dragon International Holdings Limited announced that with effect from 19 October 2022, Mr. Chong Lok Man (‘Mr. Chong') has resigned as an independent non-executive Director of the Company (‘INED') as Mr. Chong would like to spend more time to pursue his own businesses and other commitments. Mr. Chong has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that need to be brought to the attention of the shareholders of the Company or the Stock Exchange of Hong Kong Limited (‘Stock Exchange'). The Board of the Company announced that with effect from 19 October 2022, Dr. Cheung Ka Yue (‘Dr. Cheung') has been appointed as an INED.

Dr. Cheung, aged 50, obtained a degree of Bachelor of Arts in Accounting from Edinburgh Napier University (formerly known as Napier University) in the United Kingdom in November 1999, a degree of Master of Laws in International Corporate and Financial Law from University of Wolverhampton in the United Kingdom in November 2014, a degree of Master of Science in Professional Accountancy from University of London in the United Kingdom in December 2018 and a degree of Doctor of Business Administration from William Howard Taft University in the United States of America in September 2020. Dr. Cheung is a practicing accountant in Hong Kong, a committee member of Sha Tin District National Education Committee, an adviser of Scout Association of Hong Kong New Territories East Region, and has over 20 years of experience in strategic investment, business administration and commercial developments. Dr. Cheung has profound knowledge and extensive experience in the regulatory, corporate finance, compliance and corporate governance fields.

Dr. Cheung is currently an independent non-executive director of IAG Holdings Limited since 30 June 2022, and he has been (i) an independent non-executive director from 9 November 2021 to 30 November 2021; (ii) a non-executive director from 30 November 2021 to 26 April 2022; and (iii) an executive director since 26 April 2022 of Mayer Holdings Limited. He is also currently a director of Masters Alliance in Supersearch Plc, a company incorporated in the United Kingdom, and a director of (Guangzhou Debao 3D Technology Limited), a company established in the People's Republic of China and the shares of which are quoted on Shenzhen Qianhai Equity Exchange. Dr. Cheung has entered into a service agreement with the Company in relation to his appointment as an INED with effect from 19 October 2022 and will continue thereafter until a notice of termination of not less than three months is served by either party.

However, Dr. Cheung's appointment is subject to normal retirement and re-election by the shareholders pursuant to the bye-laws of the Company. Dr. Cheung shall be entitled to receive a director's emolument of HKD 120,000 per annum which was determined by reference to, among other factors, the operating results and requirements of the Group and his contribution to the performance of the Group or with reference to the recommendation of the remuneration committee of the Company (‘Remuneration Committee').