Tungtex : (1) APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR; AND (2) CHANGE OF COMPANY SECRETARY

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TUNGTEX (HOLDINGS) COMPANY LIMITED

Ν੻˻€ණྠϞࠢʮ̡

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00518)

• (1) APPOINTMENT OF AN INDEPENDENT

  NON-EXECUTIVE DIRECTOR;

  AND

• (2) CHANGE OF COMPANY SECRETARY

APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of Tungtex (Holdings) Company Limited (the "Company") is pleased to announce that Mr. Yu Wing Sang Wilson ("Mr. Yu") has been appointed as an independent non-executive director of the Company with effect from 1 April 2021.

Mr. Yu Wing Sang Wilson, aged 54, holds a Diploma in Legal Studies from University of Hong Kong, School of Professional and Continuing Education. He has over 24 years' experience in advising and handling company legal matters and conveyancing business. Mr. Yu joined Messrs. Kitty So and Tong since 2004 and is currently a legal executive.

Mr. Yu has entered into a service contract with the Company pursuant to which he is appointed as an independent non-executive director for a term of three years subject to retirement by rotation at least once every three years in accordance with the provisions of the Articles of Association of the Company. Mr. Yu, as an independent non-executive director, will be entitled to a director's fee of HK$100,000 per annum as determined with reference to his duties and responsibilities in the Company and the prevailing market conditions, as approved by the Board in accordance with the Company's remuneration policy pursuant to the authority given by the shareholders of the Company in annual general meeting.

Save as disclosed in this announcement, as at the date hereof, Mr. Yu has confirmed that he does not:

• (i) hold any other positions in the Company or any of its subsidiaries;

• (ii) hold any directorships in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years or other major appointments and professional qualifications;

• (iii) have any relationship with any directors, senior management or substantial or controlling shareholders of the Company; and

• (iv) have any interest in any 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).

Mr. Yu has confirmed that there is no other information which is discloseable pursuant to any of the requirements under Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and there are no other matters relating to his appointment that need to be brought to the attention of the shareholders of the Company.

CHANGE OF COMPANY SECRETARY

The Board hereby also announces that Ms. Li Yuk Kwan ("Ms. Li") has tendered her resignation as the company secretary of the Company with effect from 1 April 2021. Ms. Li has confirmed that she has no disagreement with the Board and there is no matter in relation to her resignation which needs 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 is pleased to announce that Mr. Chu Pui Ki Dickson ("Mr. Chu") has been appointed as the company secretary in replacement of Ms. Li with effect from 1 April 2021. Mr. Chu is a member of the Hong Kong Institute of Certified Public Accountants since February 2011. He has over 10 years of relevant experience in accounting and auditing and has experience in tax, internal control matters and holding position of company secretary in other listed companies listed on the Stock Exchange.

Mr. Chu is currently serving as the company secretary of SG Group Holdings Limited (a company listed on the Main Board of the Stock Exchange with stock code 01657), Top Standard Corporation (a company listed on the GEM of the Stock Exchange with stock code 08510) and Cornerstone Technologies Holdings Limited (formerly named Elegance Commercial and Financial Printing Group Limited) (a company listed on the GEM of the Stock Exchange with stock code 08391), since March 2019, June 2017 and July 2019 respectively.

The Board would like to express its gratitude to Ms. Li for her contributions to the Company during her tenure of office and to welcome Mr. Yu and Mr. Chu on their new appointments.

For and on behalf of the Board

Tungtex (Holdings) Company Limited

Martin Tung Hau Man

Chairman

Hong Kong, 18 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Martin Tung Hau Man, Mr. Raymond Tung Wai Man and Mr. Billy Tung Chung Man; and independent non-executive directors are Mr. Tony Chang Chung Kay, Mr. Robert Yau Ming Kim and Mr.

Kenneth Yuen Ki Lok.