The board of Hong Kong Johnson Holdings Co., Ltd. announced that Mr. CHEUNG Kam Chiu and Mr. SZETO Wing Tak have resigned from their positions as the executive Directors with effect from 1 April 2022. Mr. Cheung and Mr. Szeto have also resigned from their positions as the co-chief executive officers of the Company and all other offices in the Group which will take effect from 1 July 2022 in order to devote more time to their personal endeavours. The Board announces that Mr. Ng Chun Man ("Mr. Ng"), the executive president of the Company, and Dr. Li Zhuang ("Dr. Li"), the joint company secretary of the Company, will be appointed as the executive Directors with effect from 1 April 2022.

Mr. Ng will also be appointed as the chief executive officer of the Company with effect from 1 July 2022 responsible for overseeing strategic planning, business development and operation of the Group. Dr. Li will also be appointed as the vice president of the Company with effect from 1 April 2022 responsible for overseeing the functions of investment development, corporate governance and investor relations of the Company. Mr. Ng, aged 56, joined the Group as the executive president on 13 January 2020 responsible for overseeing strategic planning, business development, operation, internal control and corporate governance of the Group.

He has been a director of certain subsidiaries of the Company. Following the resignation of Mr. Cheung as an executive Director, Mr. Cheung will cease to be an Authorised Representative with effect from 1 April 2022. Mr. Ng will be appointed as an Authorised Representative in place of Mr. Cheung with effect from 1 April 2022.