The Board of Rare Earth Magnesium Technology Group Holdings Limited announced that Mr. Kwong Ping Man (Mr. Kwong) had retired as an independent non-executive director, the Chairman and a member of audit committee, a member of remuneration committee and a member of the nomination committee of the Company, with effect from the conclusion of the annual general meeting on 28 June 2024. Following the retirement of Mr. Kwong, Mr. Cheung Sound Poon has been appointed as the Chairman of the audit committee and a member of nomination committee; Mr. Lin Pengxuan has been appointed as a member of remuneration committee. Mr. Kwong has confirmed that there is no disagreement with the Board and there is no matter relating to his retirement that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.