Ta Yang : RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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TA YANG GROUP HOLDINGS LIMITED

大洋集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1991)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of Ta Yang Group Holdings Limited (the "Company") announces that Mr. Cheung Simon ("Mr. Cheung") has tendered his resignation as an independent non-executive Director of the Company, a member of each of the audit committee, the nomination committee and the remuneration committee of the Company with effect from 18 December 2019 (the "Resignation") in order to devote more attention and dedication to his own business engagement.

Mr. Cheung has confirmed to the Company that he has no disagreement with the Board and there are no other matters that need to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company in respect of the Resignation.

Upon the resignation of Mr. Cheung, the Company only has two independent non-executive Directors and two members of the Audit Committee which falls below the minimum number required under Rule 3.10(1), 3.10A and 3.21 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). The Company is actively identifying suitable candidate for appointment as independent non-executive Director so as to fulfill the requirements under Rules 3.10(1), 3.10A and 3.21 of the Listing Rules within three months from 19 December 2019.

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Further announcement will be made by the Company in relation to such appointment as and when appropriate.

The Board would like to express its sincere gratitude to Mr. Cheung for his valuable contribution to the Company during his tenure of office.

By order of the Board

Ta Yang Group Holdings Limited

Shi Qi

Chairlady and Chief Executive Officer

Hong Kong, 19 December 2019

As at the date of this announcement, the Board comprises four executive Directors, namely Ms. Shi Qi, Mr. Cheng Hong, Mr. Gao Feng and Mr. Zhao Ang; two non-executive Directors, namely, Mr. Han Lei and Mr. Sze Wai Lun; and two independent non-executive Directors, namely Mr. Wu Tak Kong and Ms. Zhang Lijuan .

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