The board of directors of Tungtex (Holdings) Company Limited announced that Mr. Alan Lam Yiu On has tendered his resignation as an executive director, the managing director and an authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited with effect from August 1, 2016 in order to devote more time to his personal development and endeavours. Mr. Lam will also resign as a director of various subsidiaries of the Company with effect from August 1, 2016. Mr. Lam has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the company.

The Board announced that following the resignation of Mr. Lam as an executive director, the managing director and an authorised representative of the company with effect from August 1, 2016, Mr. Benson Tung Wah Wing, the Chairman of the Board and an executive director of the company, will take up the position as the managing director of the company with effect from August 1, 2016. Mr. Benson Tung Wah Wing, aged 65, is the principal founder of the company and its subsidiaries. He also holds other directorships in the company's subsidiaries.

Following the resignation of Mr. Lam as an executive director, the managing director and an authorised representative of the company with effect from August 1, 2016, Mr. Lam will cease to act as an authorised representative of the Company under Rule 3.05 of the Listing Rules. The Board further announced that Mr. Martin Tung Hau Man, an executive director of the company, will be appointed as an authorised representative of the Company with effect from August 1, 2016 under Rule 3.05 of the Listing Rules. The Board further announced that Mr. Tung Siu Wing, a non-executive director, Mr. Kevin Lee Kwok Bun, a non-executive director, and Mr. Johnny Chang Tak Cheung, an independent non- executive director, will resign as directors with effect from July 1, 2016.

Mr. Tung, Mr. Lee and Mr. Chang have decided to resign as directors of the company as they would like to devote more time to their personal endeavours and commitments. Each of Mr. Tung, Mr. Lee and Mr. Chang confirms that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of shareholders of the company.