The board of directors of the Huiyin Holdings Group Limited announced that the company incorporated a subsidiary, namely Red Health Products Company Limited, in the United States during the financial year ended 30 June 2020. Based on the current information available to the Board, the US Subsidiary recorded certain sales transactions during the period from May 2020 to June 2020. However, the Company has not been able to provide sufficient information and documents to the Company's auditor for the audit of the US Subsidiary. In view of the above, the Company has engaged RSM as the independent forensic accountant to perform independent forensic review in relation to these transactions . The Board further announces that it has resolved, among other matters, to temporarily suspend the executive and/or administrative duties of (i) Mr. Li Dongming as an executive Director; (ii) Mr. Jiang Bian as an executive Director; and (iii) Mr. Kam Kit as a non-executive Director, as permitted by law all with effect from 10 February 2021 until further notice in order to facilitate the investigation by the Board as to whether there were any wrongdoings and/or negligence by Mr. Li, Mr. Jiang and Mr. Kam in carrying out their duties as Directors in relation to the Relevant Transactions.