Sitoy Group Holdings Limited announces that Mr. Chan Tung Chit will be appointed as an executive director and Ms. Lee Pao Yue will be appointed as an independent non-executive director with effect from 6 December 2023. Mr. Chan, aged 38, joined the Group in late 2015 as finance manager. He is currently the Group Financial Controller of the Group and he will be appointed as chief financial officer of the Group with effect from 6 December 2023.

He is responsible for the Group's overall financial management and reporting, internal control and risk management, mergers and acquisitions, and investor relations. Mr. Chan is also currently the supervisor or commissioner of certain subsidiaries of the Group. Before joining the Group, Mr. Chan worked from October 2009 to November 2015 in one of the international accounting firms and his last position was manager in assurance and business advisory services department.

He has involved in numerous IPO, annual audit, interim review and special transaction engagements of Hong Kong listed companies, state owned enterprises and has deep knowledge of the listing procedures and regulatory requirements of listed companies, including internal controls, risk management, accounting and financial disclosures. He graduated from the City University of Hong Kong with a bachelor's degree of business administration in accountancy in July 2009. He is a fellow member of Hong Kong Institute of Certified Public Accountants.

Ms. Lee, aged 58, has over 30 years of experience in brand management and business development in the luxury goods and accessories industries. She has established strong network and connections with key market players, including major property developers and shopping centres in Greater China and across Southeast Asia. Ms. Lee graduated from the University of Manitoba of Canada with a bachelor's degree of Agriculture in Food Science.

The Board further announce that Ms. Lee will be appointed a member of each of the audit committee, the remuneration committee, the nomination committee and the environmental, social and governance committee of the Company with effect from 6 December 2023.