Sunkwan Properties Group Limited announced Mr. Zhou Zheren ("Mr. Zhou") resigned as an independent non-executive Director due to his other business commitments with effect from 1 July 2023, and ceased to be a member of each of the Audit Committee, the remuneration committee (the "Remuneration Committee") and the nomination committee (the "Nomination Committee") of the Company. Mr. Zhou has confirmed that he has no disagreement with the Board and that 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 to the attention of the Stock Exchange. Following the resignation of Mr. Zhou, the composition of the Board comprises two executive Directors, two non-executive Directors and two independent non-executive Directors and hence the number of the independent non-executive Directors and the members of each of the Audit Committee, Remuneration Committee and Nomination Committee has fallen below the minimum number required under Rules 3.10(1), 3.21, 3.25 and 3.27A of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").

The Board is in the process of identifying a suitable candidate to fill the vacancies of the independent non-executive Director and of the member of each of the Audit Committee, Remuneration Committee and Nomination Committee and will use its best endeavours to ensure that a suitable candidate is appointed as soon as practicable and, in any event, within three-months from the date of Mr. Zhou's resignation pursuant to Rules 3.11, 3.23 and 3.27 of the Listing Rules. The Company will make further announcement(s) as and when appropriate.