The board of directors of Hi-Level Technology Holdings Limited announced that with effect from September 4, 2023: Mr. Chang has resigned as the CEO as he wishes to devote more time for his personal commitments. Mr. Chang has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the Shareholders. Mr. Chan has been appointed as the CEO.

The biographical details of Mr. Chan are set out as below: Mr. Chan, aged 42, graduated from The Hong Kong Polytechnic University in Hong Kong with a Bachelor's degree in Electronics and Information Engineering in 2004. Mr. Chan has over 17 years of experience in corporate management and business development in sales and marketing within electronics field. Before joining the Company, he was the Vice President of sales of S.A.S. Microelectronics Company Limited since 2015, a wholly-owned subsidiary of S.A.S. Dragon.

Mr. Chan did not hold any directorships in listed public companies in the past three years and had no other major appointments and does not hold any other positions with the Company or other members of the Group. Mr. Chan has entered into a service agreement with the Company commencing from 4 September 2023 for an initial term of one year, during which either party may terminate the service agreement by giving the other not less than three months written notice.