Board of directors of China Gem Holdings Limited announced that with effect from 12 January 2023, Mr. Zhong Ling has resigned as an executive Director, the chairman of the nomination committee of the Company due to his intention to concentrate on other business commitments. Mr. Wu Yujie has resigned as an executive Director. Mr. Zhong and Mr. Wu has confirmed that he has no disagreement with the Board and there are no any matters relating to his resignation that need to be brought to the attention of the shareholders of the Company.

Mr. Kan Chi Ming being non-executive Director has resigned as an non-executive Direct or the,audit committee of the Company due to his intention to concentrate on other business commitments; and Mr. Warren Lee Primhak and Mr. Li Haibo being independent non-executive Director has resigned as an independent non-executive Director, the chairman of the nomination committee of the Company and a member of each of the remuneration committee of the Company and the audit committee of the Company due to his intention to concentrate on other business commitments.