The board of directors of Hsin Chong Group Holdings Limited announced that with effect from 13 March 2018, Ms. LEE Jai Ying ("Ms. Lee") has resigned as an Independent Non-executive Director of the Company as she would like to devote more time to her other business engagement. Following Ms. Lee's resignation, she has also ceased to be a member of the Remuneration Committee and the Chairman of the Nomination Committee of the Company with effect from that date. Following the resignation of Ms. Lee: the Company will have only three Independent Non-executive Directors out of a total of 11 Directors on the Board, the number of which has fallen below the minimum number required under Rule 3.10A of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"); and the Chairman of Nomination Committee will fall into vacancy and the Company will arrange for the election of the new Chairman of Nomination Committee as soon as practicable in order to fill up the vacancy.