The board (the ``Board'') of directors (`Director) of Times Universal Group Holdings Limited announced that Mr. Huang Xiangyang (Mr. Huang) has been appointed as an independent non-executive Director, the chairman of the remuneration committee (the ``Remuneration Committee'') of the Company, and a member of each of the audit committee (Audit Committee) and nomination committee (Nomination Committee) of the Company with effect from 29 July 2022. Mr. Huang, aged 68, is currently a senior consultant of Intewing & Partners. He has over 36 years of experience in Chinese law, especially economic, trade and intellectual property law.

Mr. Huang is a qualified patent attorney in Germany and China. From 30 December 2016 to 11 June 2019, Mr. Huang was a non-executive Director. Prior to joining the Company in 2016, Mr. Huang was employed by, among others, Paul Hastings and China Patent Agent (HK) Ltd. Following the appointment of Mr. Huang as an independent non-executive Director, the chairman of the Remuneration Committee, and a member of each of the Audit Committee and the Nomination Committee, the Company is now in compliance with the requirements under Rules 3.10(1), 3.21 and 3.25 of the Listing Rules stipulating that the Board must have three independent non-executive Directors, the Audit Committee must comprise a minimum of three members, and the Remuneration Committee must be chaired by an independent non-executive Director.

The Board hereby announces that Ms. Chong Lai Chu (``Ms. Chong'') has tendered her resignation as the company secretary of the Company (the ``Company Secretary'') to pursue other career development with effect from 31 July 2022. Ms. Chong confirmed that she has no disagreement with the Board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the ``Stock Exchange''). The Board further announces that Mr. Lin Junwei (``Mr. Lin'') shall cease to be one of the authorised representatives under the Listing Rules of the Company.

The Board announced that Mr. Wong Chi Kong (``Mr. Wong'') has been appointed as the Company Secretary and an authorised representative of the Company with effect from 1 August 2022. Mr. Wong, has over five years of experience in the field of auditing, accounting, and corporate finance, as well as compliance work. Mr. Wong obtained a Bachelor of Business Administration (Honours) from City University of Hong Kong and is a member of The Hong Kong Institute of Certified Public Accountants.