Weiqiao Textile Co. Ltd. announced that the Independent Board Committee will be established to advise the Independent Shareholders in relation to the Revised Annual Caps. Mr. Wang Naixin, Mr. Chen Shuwen and Mr. George Chan Wing Yau have been appointed by the Board to serve as members of the Independent Board Committee.

An independent financial adviser will be appointed by the Company pursuant to the Listing Rules to advise the Independent Board Committee and the Independent Shareholders in relation to the fairness and reasonableness of the Revised Annual Caps.