The board of directors of China Wood International Holding Co., Limited announced that Mr. Fung Tze Wa has tendered his resignation as independent non- executive director and the chairman of the remuneration committee, the member of the audit committee and the member of the nomination committee with effect from 31 December 2020 owing to his personal engagements require more of his time and attention. Mr. Fung has confirmed that there is no disagreement with the Board and there is no matter in respect of his resignation that would need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Subsequent to the resignation of Mr. Fung, Mr. Zhao Xianming would be re-designated as the chairman of the remuneration committee with effect from 31 December 2020.