The board of directors of Chanhigh Holdings Limited hereby announced that Mr. Fan Rong has tendered his resignation as an independent non-executive Director of the Company with effect from 19 April 2024 so that he can devote more time to his other commitments. Accordingly, following his resignation as INED, Mr. Fan ceased to act as chairman of the audit committee and a member of the strategy committee of the Company with effect from 19 April 2024. Following the resignation of Mr. Fan, the Board and the Audit Committee each comprises of only two INEDs and none of these two remaining INEDs has appropriate professional qualifications or accounting or related financial management expertise .

As such, the Company fails to meet the requirements set out in (i) Rule 3.10(1) of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") that the Company must have at least three INEDs; (ii) Rule 3.10(2) of the Listing Rules that at least one of INEDs must have appropriate professional qualifications or accounting or related financial management expertise; and (iii) Rule 3.21 of the Listing Rules that the Audit Committee must comprise a minimum of three members.