The board of Launch Tech Company Ltd. announced that Mr. Pan Zhongmin retired as independent non-executive Director upon expiry of their former terms of appointment. Mr. Pan will not offer himself for re-election at the AGM due to his having other business engagements which required more of his dedication. Business engagements which required more of his dedication.

Following his retirement, Mr. Pan also ceased to be a member of the audit committee of the company. Mr. Pan has confirmed that he has no disagreement with the Board and there is no matter relating to his retirement that needs to be brought to the attention of the shareholders of the company.