Yangzijiang Shipbuilding (Holdings) Ltd. announced that Mr. Toe Teow Heng has tendered his resignation as Independent Non-Executive Director with effect from 6 December 2021. He has indicated that his resignation is due to his intention to seek a consultation role in the Company's proposed spin-off project and assist in the building of a new international assets management company, including but not limited to building the team, applying for asset management licences, entering into strategic partnerships and enhancing its profile, all of which may potentially impair his independence as an independent director. Following his resignation, Mr. Toe Teow Heng shall cease to be a member of the Audit Committee, Remuneration Committee and Nominating Committee.