The Sincere Company, Limited announced that Mr. Yuan Baoyu ("Mr. Yuan") will voluntarily retire from the position of an independent non-executive director of the Company with effect from the conclusion of the AGM. Mr. Yuan has indicated that he will not offer himself for re-election at the AGM and will therefore cease to be the chairman of the remuneration committee of the Company and a member of each of the audit committee and the nomination committee of the Company upon the conclusion of the AGM.