The board of The Sincere Company, Limited announced the following changes to the Board as well as other corporate positions of the Company. The Board hereby announces that, Dr. Lin Xiaohui ("Dr. Lin"), an executive Director, has been appointed as the chairman of the Company (the "Chairman") with effect from 11 June 2021. Following the appointment of Dr. Lin as the Chairman and Madam Su as the chief executive officer of the Company, Mr. Philip K H Ma ("Mr. Philip Ma") has ceased to act as the Chairman and the chief executive officer of the Company with effect from 11 June 2021. As set out in the Sincere 8 June 2021 Announcement, Mr. Philip Ma has tendered his resignation as the executive Director with effect from 1 July 2021. During this transitional period, Mr. Philip Ma has been re-designated from an executive Director to a non-executive Director with effect from 11 June 2021. Mr. Philip Ma, aged 64, joined the Company in 1990 and became an executive Director in 1992, then became the president of the Company in 1993. He was re-titled as the Group Managing Director in 1996, re-designated as Deputy Chairman & Chief Executive Officer of the Company in 2012, appointed as Chairman & Chief Executive Officer of the Company in 2014 and re-designated as a non-executive Director in June 2021. Mr. Philip Ma will act as the non-executive Director during the transitional period until his resignation from the directorship takes effect on 1 July 2021 and his re-designation as non-executive Director will not incur additional remuneration or compensation payable by the Company. Following the appointment of each of Mr. Yu Leung Fai ("Mr. Yu"), Mr. Yuan Baoyu ("Mr. Yuan") and Mr. Chung Chun Hung Simon ("Mr. Chung") as independent non-executive Directors as set out in the Sincere 10 June 2021 Announcement, the Board further announces that with effect from 11 June 2021: (i) Mr. Yu has been appointed as a member of each of the audit committee of the Board (the "Audit Committee"), the nomination committee of the Board (the "Nomination Committee") and the remuneration committee of the Board (the "Remuneration Committee");(ii) Mr. Yuan has been appointed as the co-chairman of the Remuneration Committee and a member of Nomination Committee; (iii) Mr. Chung has been appointed as the co-chairman of the Nomination Committee and a member of the Remuneration Committee. The Board announced that the Board has established an executive committee of the Board (the "Executive Committee") with effect from 11 June 2021. The Executive Committee is established for the purpose of effective and timely management of the day-to-day operations of the Group. The Executive Committee shall comprise a minimum of three members. The Board has appointed Dr. Lin, Madam Su, Dr. Yu Lai ("Dr. Yu") and Mr. Chan Chu Kin ("Mr. Chan"), all are executive Directors, as members of the Executive Committee. Dr. Lin has also been appointed as the chairman of the Executive Committee. Ms. Ada S P Cheung ("Ms. Cheung") has tendered her resignation as the Company Secretary with effect from 15 June 2021 due to her other personal commitments. In view of Ms. Cheung's resignation, the Board further announces that Mr. Chan has been appointed as the acting Company Secretary with effect from 11 June 2021.