Cathay Consolidated, Inc. Announces Resignation of David Biing as Independent Director of the Company as Member of the Audit Committee and the Remuneration Committee

Cathay Consolidated, Inc. announced resignation of David Biing, Independent Director of the Company as A Member of the Audit Committee and the Remuneration Committee. Due to personal career planning, he accepted a new position in a domestic group, he will go overseas to be responsible for marketing business,so he could not concurrently serve as an independent director of Cathay Consolidated, Inc., and will resign from January 1, 2023.