Sincere Watch (Hong Kong) Limited announced that with effect from December 1, 2021. Mr. Zhang Xiaoliang, an Executive Director, Deputy Chairman and Chief Executive Officer of the Company, will be re-designated as the Chairman and Chief Executive Officer of the Company; Mrs. Chu Yuet Wah will cease to be the Chairman of the Company and will remain as an Executive Director of the Company. Following the above re-designation, Mr. Chu will cease to act as a member of the Investment Committee, Mrs. Chu will cease to act as the chairman and remain as a member of the Investment Committee and Mr. Zhang will be appointed as the chairman and member of the Investment Committee with effect from 1 December 2021. Mr. Zhang, aged 50, was appointed as an Executive Director and Co-Chairman of the Company on April 22, 2016, and was re-designated from Co-Chairman to Deputy Chairman on October 1, 2016 and appointed as the Chief Executive Officer of the Company on January 14, 2017.