The Sincere Company, Limited announced that Mr. Yuan Baoyu, an independent non-executive Director, would voluntarily retire from office and, despite being eligible, has not offered himself for re-election at the AGM. Mr. Yuan Baoyu would retire in order to devote more time for his other personal commitment. The Board announces that with effect from 8 June 2023, Mr. Yuan Baoyu has retired from office and ceased to be an independent non-executive Director, the chairman of the remuneration committee of the Company and a member of each of the audit committee and nomination committee of the Company.