The board of directors of Tongdao Liepin Group announced with sorrow that Mr. CHOI Onward ("Mr. CHOI"), an independent non-executive Director, and the chairman of the audit committee and a member of the remuneration committee of the Company, passed away on 12 June 2023. Mr. CHOI had served the Board as an independent non-executive Director since June 2018. The Board would like to express its sincere gratitude to Mr. CHOI for his valuable
contributions to the Company during his tenure. The Board further expresses its deepest sorrow for the passing away of Mr. CHOI and conveys its heartfelt condolences to his family. Following the passing away of Mr. CHOI, the Board comprises five Directors, including two executive Directors, one non-executive Director and two independent non-executive Directors. The Company currently does not meet (i) the minimum number of independent non-executive directors 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"); (ii) the minimum number of members in the audit committee required under Rule 3.21 of the Listing Rules; and (iii) the requirement of at least one of the independent non-executive directors must have appropriate professional qualifications or accounting or related financial management expertise under Rule 3.10(2) of the Listing Rules.