The board of directors of Yip's Chemical Holdings Limited announced the following proposed changes in directorate and composition of Board committees: Mr. Wong Kong Chi ("Mr. KC Wong") is due to retire and will resign as an independent non- executive director of the Company ("INED"), the chairman of the audit committee, a member of the remuneration committee and a member of the health, safety and environment committee of the Company with effect from 1 January 2021. Following the retirement of Mr. KC Wong, Mr. Wong Yuk ("Mr. Nat Wong"), currently a non-executive director of the Company ("NED"), will be re-designated as an INED with effect from 1 January 2021. Following the retirement of Mr. KC Wong, Mr. Ku Yee Dao, Lawrence, currently an INED and a member of audit committee of the Company, will be appointed as the chairman of the audit committee of the Company with effect from 1 January 2021.