The board of directors of Ares Asia Limited announced that Mr. Ngan Hing Hon has tendered his resignation as an independent non-executive Director, the chairman of the audit committee and a member of each of the nomination committee and remuneration committee of the Board with effect from 24 January 2022, due to his personal and business commitments. The Board further announces that Mr. Liu Ji, an independent non-executive Director, has been appointed as the chairman of the audit committee of the Board with effect from 24 January 2022.