The board of directors of Wise Ally International Holdings Limited together with its subsidiaries announced that Mr. Chu Man Yin Arthur Newton has been appointed as an executive Director of the Company with effect from 2 July 2021. Mr. Chu, aged 38, joined the Group in January 2021 with the position as the managing director of original brand development responsible for overall operation of the New Branded Division of the Group. His duties include the formulation of the marketing strategy of self-developed products, identification and development of new sales opportunities, and maintaining long-term relationships with internal and external partners. Mr. Chu graduated from the University of Southern California with a Bachelor Degree of Science in Mechanical Engineering in 2006. Mr. Chu is the son of Mr. Chu Wai Hang Raymond, the Chairman, an executive Director and a controlling shareholder of the Company. Mr. Chu is also the nephew of Mr. Chu Wai Cheong Wilson, a controlling shareholder of the Company. Mr. Chu has entered into a director service agreement with the Company for a period of three years commencing on 2 July 2021 and thereafter unless or until terminated earlier in accordance with the director service agreement. His appointment is subject to retirement by rotation and re-election in accordance with the articles of association of the Company. Mr. Chu is entitled to a fixed monthly salary of HKD 100,000 and an end-of-year payment equivalent to one month's fixed salary upon completion of service for every 12-month period. Mr. Chu's remuneration is determined by the Board, under the recommendation from the remuneration committee of the Company, with reference to his background, qualification, experience, duties and responsibilities within the Group and the prevailing market conditions. Mr. Chu is also entitled to a discretionary bonus to be determined by the Board at its absolute discretion having regard to the performance of Mr. Chu and the financial performance of the Group.