The boar of directors of HG Semiconductor Limited announced that Ms. Liu Wanwen (``Ms. Liu'') has been appointed as an independent non-executive Director and a member of the audit committee of the Company (the ``Audit Committee'') with effect from 8 May 2024. The biographical details of Ms. Liu are set out below: Ms. Liu Wanwen, aged 54, graduated from Anhui University with a bachelor's degree in arts. Ms. Liu is currently an independent non-executive director of Shandong International Trust Co. Ltd., which is a company listed on the Stock Exchange. She also has been the managing director of the private wealth management department of UOB Kay Hian (Hong Kong) Limited since November 2014. From December 2011 to November 2014, she served as a director and head of the Chinese local large enterprises department at the Shanghai branch of Standard Chartered Bank (China) Co. Ltd. From December 2006 to December 2011, she worked at the Shenzhen branch of Standard Chartered Bank (China) Co. Ltd., where she successively served as the head of the multinational enterprise department and a member of the management committee, the deputy branch manager of the Shenzhen branch and the head of private bank division of the South China region. Ms. Liu has over 25 years of experience in the banking and asset management sectors.
Following the appointment of Ms. Liu as an independent non-executive Director and a member of the Audit Committee, the Company has three independent non-executive Directors, representing one-third of the Board, and the Audit Committee comprise the three independent non-executive Directors. Such number and composition of independent non-executive Directors and of the Audit Committee comply with Rules 3.10(1), 3.10A and 3.21of the Listing Rules.