Harmonicare Medical : CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTORS AND MEMBERS OF BOARD COMMITTEES

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1509)

CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTORS

AND MEMBERS OF BOARD COMMITTEES

The board of directors (the "Board") of Harmonicare Medical Holdings Limited (the "Company", together with its subsidiaries, the "Group") hereby announces that, the following changes take effect from 24 August 2020:

1. Mr. Kong Aiguo ("Mr. Kong") has resigned as an independent non-executive director of the Company, as well as the chairman of the remuneration committee, and a member of each of the audit committee and the nomination committee of the Board; and
2. Ms. Hsu Wai Man Helen ("Ms. Hsu") has been appointed as an independent non-executive director of the Company, as well as the chairman of the remuneration committee, and a member of each of the audit committee and the nomination committee of the Board.

Resignation of Independent Non-executive Director

Mr. Kong has resigned as an independent non-executive director of the Company, as well as the chairman of the remuneration committee, and a member of each of the audit committee and the nomination committee of the Board due to his dedication to his own business engagement, with effect from 24 August 2020.

Mr. Kong has confirmed that he has no disagreement with the Board, and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company.

The Board hereby would like to express its sincere gratitude to Mr. Kong for his contributions to the Company during his tenure of office.

Appointment of Independent Non-executive Director

The biographical details of Ms. Hsu are as follows:

Ms. Hsu, aged 50, has over 20 years' experience in accounting. Ms. Hsu graduated from The Chinese University of Hong Kong with a bachelor's degree in business administration. Ms. Hsu had been working in Ernst & Young for 18 years and was a partner of Ernst & Young before she retired from the firm in February 2011. She is a fellow member of the Hong Kong Institute of Certified Public Accountants and a member of the American Institute of Certified Public Accountants.

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Ms. Hsu is currently an independent non-executive director of Richly Field China Development Limited (stock code: 0313), Perfect Shape Medical Limited (stock code: 1830), China Display Optoelectronics Technology Holdings Limited (stock code: 334) and Beijing Gas Blue Sky Holdings Limited (stock code: 6828), the shares of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Ms. Hsu was an independent non-executive director of BC Technology Group Limited (the shares of which are listed on the Main Board of the Stock Exchange, stock code: 0863) from April 2012 to May 2018, and an independent non-executive director of Circle International Holdings Limited (the shares of which are listed on the National Stock Exchange of Australia (NSX), stock code: CCH) from September 2017 to May 2020.

Ms. Hsu has entered into an appointment letter as an independent non-executive director with the Company for a term of three years commencing from 24 August 2020, which may be terminated by either party thereto giving no less than one month's notice in writing. She shall be subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the articles of association of the Company. Pursuant to the terms of appointment as recommended by the remuneration committee of the Company, Ms. Hsu is entitled to a director's fee in Hong Kong Dollar equivalent to RMB200,000 per annum, which is determined by the Board with reference to her performance, time commitment and responsibility with the Company.

Save as disclosed above, as at the date of this announcement, Ms. Hsu (i) does not hold any other positions with the Company or members of the Group; (ii) does not have any relationships with any directors, senior management, substantial shareholders or controlling shareholders of the Company;

1. does not hold any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas at present and in the last three years; and (iv) does not have any interests in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Ms. Hsu has confirmed that she has met the independence guidelines set out in Rule 3.13 of the Listing Rules.

Save as disclosed above, there is no other information that is required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, and there are no other matters concerning the appointment of Ms. Hsu that need to be brought to the attention of the shareholders of the Company.

The Board would like to extend a warm welcome to Ms. Hsu on her appointment.

By Order of the Board

Harmonicare Medical Holdings Limited

Lin Yuming

Chairman, Executive Director and President

Hong Kong, 24 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Lin Yuming, Mr. Yang Guo and Mr. Wei Rongda; the non-executive directors of the Company are Mr. Lin Yuguo, Mr. Qiu Jianwei and Mr. Xu Jun; and the independent non-executive directors of the Company are Ms. Fang Lan, Mr. Cai Jiangnan and Ms. Hsu Wai Man Helen.

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