The Board of Yan Tat Group Holdings Limited announces the following changes with effect from 1 August 2023: (i) Mr. Chan will resign as the Chairman and the Chief Executive Officer, and will continue to be an executive Director after his resignation as the Chairman and the Chief Executive Officer; (ii) Mrs. Chan, an executive Director, will be appointed as the Chairman; and (iii) Mr. YW Chan, an executive Director, will be appointed as the Chief Executive Officer. Mrs. Chan, aged 73, is an executive Director and vice president. She has participated in the management of the Group since September 1996. Mrs. Chan is one of the directors of eight of company's subsidiaries, namely, Yan Tat Group Limited, Yan Tat (HK) Industrial Limited, Yan Tat Technology Limited, Yantat Printed Circuit (Shenzhen) Company Limited, Vital Alliance Global Limited, Yan Tat Global Company Limited, Yan Tat International Limited, and Jumbo Height Limited. Mrs. Chan is responsible for overseeing the administration, purchasing and logistics of the Group, corporate strategic planning and overall business development of the Group. Mrs. Chan is the spouse of Mr. Chan, and the mother of Mr. Chan Yan Kwong, a non-executive Director, and Mr. Chan Yan Wing, an executive Director. Mrs. Chan completed her secondary school education in Fujian province, the PRC in June 1968. Mrs. Chan has entered into a service agreement with the Company on 18 November 2014, and is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the provisions of the articles of association of the Company. The emoluments of Mrs. Chan as set out in the service agreement in the coming financial year are HKD 1,720,795 per annum, and Mrs. Chan is entitled to such amount of discretionary bonus which the Company may decide to pay. Such emoluments are determined with reference to the Company's performance and profitability, as well as remuneration benchmark in the industry and the prevailing market conditions. For the year ended 31 December 2022, Mrs. Chan received a total emolument of HKD 2,090,795 (including pension scheme contributions and discretionary bonus). Mr. Chan will resign as the chief executive officer of the Company (the ``Chief Executive Officer'') with effect from 1 August 2023 in order to devote more time to pursue his personal interests. Mr. Chan will continue to be an executive Director after his resignation as the Chief Executive Officer. Mr. Chan has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the Company in connection with his resignation as the Chief Executive Officer. Mr. YW Chan, aged 44, is an executive Director and vice president. Mr. YW Chan is the son of Mr. Chan and Mrs. Chan, and the brother of Mr. Chan Yan Kwong, a non-executive Director. Mr. YW Chan is one of the directors of five of subsidiaries, namely, Yan Tat Group Limited, Vital Alliance Global Limited, Yan Tat Global Company Limited, Yan Tat International Limited and Jumbo Height imited. Mr. YW Chan has approximately 20 years of experience in the PCB industry. Mr. YW Chan joined the Group in July 2003 and is primarily responsible for overseeing the sales and marketing of the Group. Mr. YW Chan graduated from University of London in the United Kingdom with a bachelor's degree of science in Management in August 2002. Since 2016 till now, Mr. YW Chan was elected as a member of the Shenzhen Municipal Pingshan District Chinese People's Political Consultative Conference and he has been a member and the executive director of the Youth Committee of Hong Kong Printed Circuit Association since January 2013 and October 2017, respectively. He has been the vice chairman of the Fujian Chamber of Commerce in Shenzhen () since January 2012. Since 2019, he has served
as the executive director of the Hong Kong Federation of Fujian Associations and the executive deputy director of the youth committee of the association. Since 2019, he has
served as the deputy secretary of the Friends of Wuyi. Since 2020, he has served as the vice chairman of Hong Kong Shenzhen Youth Association. Since 2020, he has served as vice
chairman of the Hong Kong Youth Development Alliance. Since March 2021, he has served as the vice chairman of Hong Kong Ping Shan Youth Association.