The board of directors of Ko Yo Chemical (Group) Limited announced that with effect from 1 July 2021, Mr. Shi Lei ("Mr. Shi") has tendered his resignation as an independent non-executive Director, the chairman and a member of the audit committee of the Board (the "Audit Committee"), a member of the remuneration committee of the Board and a member of the nomination committee of the Board due to the expiry of the term of appointment. Mr. Shi 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 is no matter 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 Board announced that Mr. Le Yiren ("Mr. Le") has been appointed as an independent non-executive Director, the chairman and a member of the Audit Committee, and a member of the Remuneration Committee and the Nomination Committee with effect from 1 July 2021. Mr. Le, aged 58, is the vice chairman of the Association of China Commercial Enterprise Management since September 2019 and an independent non-executive director of Jiangyin Rural Commercial Bank Co. Ltd.