The board of directors of Ko Yo Chemical (Group) Limited announced that Mr. Hu Xiaoping (Mr. Hu) has tendered his resignation as an independent non-executive Director, the chairman and a member of the remuneration committee of the Board, a member of the audit committee of the Board and a member of the nomination committee of the Board with effect from 1 January 2023 due to the upcoming expiration of his term of office as an independent non-executive Director which he has served for over nineteen years. Mr. Hu has confirmed that (i) he has no claim against the Company in respect of his resignation whatsoever whether in respect of fees, remuneration or compensation for loss of office; (ii) he has no disagreement with the Board; and (iii) there are no 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 (the "Stock Exchange"). The Board announced that Ms. Lu Yi ("Ms. Lu") will be appointed as an independent non-executive Director, the chairman and a member of the Remuneration Committee, a member of the Audit Committee and a member of the Nomination Committee with effect from 1 January 2023.

Ms. Lu, aged 38, is currently a professor and a doctoral advisor at Nanjing University. Ms. Lu graduated from the School of Chemistry and Chemical Engineering, Nanjing University with a bachelor's degree in science in 2006. During 2008 to 2010, Ms. Lu joined a doctorate programme at The Scripps Research Institute, the United States, sponsored by China Scholarship Council.

Ms. Lu obtained a doctorate degree in science from the School of Chemistry and Chemical Engineering, Nanjing University in 2011. Ms. Lu was an associate professor at the School of Chemistry and Chemical Engineering, Nanjing University from 2015 to 2019. Ms. Lu was appointed as a professor at the School of Chemistry and Chemical Engineering, Nanjing University in 2020.

Ms. Lu has published over 20 articles in Journal of the American Chemical Society, Angewandte Chemie International Edition, Nature Communications and other scholarly journals as author or corresponding author.