The board of directors of HG Semiconductor Limited announced that Mr. Chiu Kwai San ('Mr. Chiu'') has tendered his resignation as a non-executive Director but will act as an advisor to the Group with effect from 27 January 2022. Mr. Chiu's resignation is due to his other business engagements and commitments. Mr. Chiu has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

Mr. Chiu has also confirmed that he does not have any claim against the Company in respect of his resignation.