The board of directors of HG Semiconductor Limited announced that Lyu Xiangrong has been appointed as Executive Director of the Company with effect from April 19, 2022. From 2018 to 2021, Lyu was the Chief Executive Officer of CNCBI International Investment Holdings Co. Ltd. Since 2022, Lyu was the Chief Executive Officer of PIH Capital Co.

Limited. The Board of Directors of the Company announced that Wang Jie Chuan has been appointed as Non-Executive Director of the Company with effect from April 19, 2022. Since 2005, Wang has been the executive director of Nanning Hongmao Real Estate Co.

Ltd. The Board of Directors of the Company announced that Li Yang has been appointed as Independent Non-Executive Director of the Company with effect from April 19, 2022. From August 2020 to February 2021, he acted as an executive director of CT Environmental Group Limited. On January 19, 2022, Li was appointed as the chairman of the board and the executive director of Virtual Mind Holding Company Limited (formerly known as CEFC Hong Kong Financial Investment Company Limited).

The Board also announced that, with effect from April 19, 2022, Li Yang has been appointed as a member of the audit committee, nomination committee and Remuneration Committee of the Company.