The board of directors of Pou Sheng International (Holdings) Limited announced that Mr. Wu, Pan-Tsu ("Mr. Wu") will retire from all his positions with the Company, including (i) the chairman of the Company (the "Chairman"); (ii) an executive director of the Company ("Executive Director"); (iii) the chairman of the Nomination Committee and Disclosure Committee; and (iv) an authorised representative of the Company ("Authorised Representative"), with effect from 1 July 2022 for his retirement plan and to devote more time to pursue his other personal commitment. Mr. Wu has confirmed that he has no disagreement with the Board and that there is no matter in relation to his retirement that needs to be brought to the attention of the shareholders of the Company. Further, the Board announced that Mr. Lee, Shao-Wu ("Mr. Lee") will be elected as the Chairman and appointed as the chairman of the Disclosure Committee and an Authorised Representative with effect from 1 July 2022.

Mr. Lee, aged 58, has been an Executive Director since February 2017. He is also the chief executive officer of the Company (the "Chief Executive Officer") and a member of the Disclosure Committee. He once was the acting Chief Executive Officer during the period from February to March 2017.

Mr. Lee is also a director of certain subsidiaries of the Company. He holds a Master of International Business Administration degree granted by Chinese Culture University in Taiwan and a Bachelor of Mechanical Engineering degree granted by National Central University in Taiwan. Mr. Lee was the managing director of Barits Securities (HK) Ltd. before he joined InfoVision Optoelectronics (Kunshan) Co.

Ltd., a TFT-LCD panel manufacturer in China, as chief financial officer and vice president of administration center in 2004. Mr. Lee was an executive director of Yue Yuen Industrial (Holdings) Limited ("Yue Yuen"), a company listed on the Stock Exchange and a controlling shareholder of the Company, and the head of strategic investment of Pou Chen Corporation ("PCC"), a company listed on the Taiwan Stock Exchange Corporation and a controlling shareholder of Yue Yuen. Yue Yuen and PCC, through its interests in Yue Yuen, are deemed to be interested in the shares of the Company which would fall to be disclosed under the provisions of Divisions 2 and 3 of Part XV of the Securities and Futures Ordinance (the "SFO"), Chapter 571 of the Laws of Hong Kong.

The Board announced that Mr. Hu, Chia-Ho ("Mr. Hu") will be appointed as an Executive Director, in place of Mr. Wu, and a member of the Nomination Committee and Disclosure Committee with effect from 1 July 2022. Mr. Hu, aged 53, graduated from the University of Wisconsin, Madison, the United States of America with a Master's degree of Science. Mr. Hu is and has been an executive director of Yue Yuen since 20 March 2015.

He is also a director of certain subsidiaries of Yue Yuen. Mr. Hu joined PCC in 1997. He is a vice president of PCC and was the head of the human resources department of PCC and became the head of CEO office of PCC on 1 April 2020.

He has extensive experience in human resources management and business development. Prior to joining PCC, Mr. Hu had worked with Citibank Taiwan and was responsible for corporate financing and the related businesses. Mr. Hu is and has been an executive director of Eagle Nice (International) Holdings Limited, a company listed on the Stock Exchange, since 1 December 2020.

Mr. Hu will hold office of Executive Director until the next following annual general meeting of the Company and will be eligible for re-election in accordance with the bye-laws of the Company and the Listing Rules. As at the date of this announcement, a service agreement as an Executive Director has been entered into between the Company and Mr. Hu for a term of three years with effect from 1 July 2022 (the "Service The Board announced that Mr. Feng Lei Ming ("Mr. Feng"), an independent non-executive director of the Company, will be appointed as the chairman of the Nomination Committee with effect from 1 July 2022. The Board announced that Mr. Liao, Yuang-Whang ("Mr. Liao"), an Executive Director, will be appointed as a member of the Disclosure Committee with effect from 1 July 2022.