The Board of Directors of Universal Technologies Holdings Limited announced that Dr. Cheung Wai Bun, Charles, J.P. has informed the Company that he has decided not to offer himself for re-election at the forthcoming annual general meeting of the Company scheduled to be held on 30 June 2023 (the "AGM"). As such, Dr. Cheung will retire as an independent non-executive Director upon the conclusion of the AGM. The Board announces that with effect from 23 May 2023, Mr. Chen Jinyang, the Chairman and Chief Executive Officer of the Company, is appointed as the chairman of the Nomination Committee and a member of the Remuneration Committee.