Wai Chi : Announces Death of its Previous Chairman - Executive Director and Chief Executive Officer Appointed New Chairman

【For immediate release】

Wai Chi Holdings Company Limited

偉志控股有限公司

(Stock Code: 1305.HK)

Wai Chi Holdings Announces Death of its Previous Chairman

Executive Director and Chief Executive Officer Appointed New Chairman

(Hong Kong, 31 January 2022)-Wai Chi Holdings Company Limited ("Wai Chi Holdings", together with its subsidiaries collectively known as the "Group") (Stock Code: 1305.HK) announces with great sadness that Mr. Yiu Chi To ("Mr. Yiu"), the previous Chairman and an executive director of the Company, passed away on 28 January 2022, after a sudden cardiac arrhythmia. The board of directors (the "Board") expresses its deepest sorrow for the passing

away of Mr. Yiu and conveys the deepest condolences to his family. The Board also expresses its sincere appreciation to Mr. Yiu for his valuable contribution to the Group.

On the same day, Mr. Chen Chung Po ("Mr. Chen"), an executive Director and the Chief Executive Officer of the Company, has been appointed as the Chairman of the Board to replace Mr. Yiu. Mr. Chen, age 44, was appointed as executive Director and the Chief Executive Officer of the Company on 16 August 2013. He is responsible for the day-to-day management of the Group including administration, procurement, production as well as financial management. Mr. Chen has more than 10 years of working experience in banking and finance fields, and a Bachelor of Arts in Business Studies degree from the Hong Kong Polytechnic University.

The Board takes the view that the operations of the Group will not have any material impact.

About Wai Chi Holdings Company Limited (Stock Code: 1305.HK)

Wai Chi Holdings Company Limited is an established LED products manufacturer focusing on producing LED backlight and LED lighting products on an OEM and ODM basis. Equipped with comprehensive production facilities in Shenzhen, Huizhou and Yichang in the PRC, the Group is capable of handling the requisite production procedures (including product design, mould production, mass production and quality control and maintenance) for LED backlight products and LED lighting products. The Group recently expanded its business into the semiconductor memory chips filed to capture the growing demand in the market. The Group was listed on the Main Board of The Stock Exchange of Hong Kong Limited in November 2014 and its stock code is 1305.HK.

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