The board of directors of China Futex Holdings Limited announced that, with effect from 18 January 2021, Dr. Mu Zhirong ("Dr. Mu") resigned as an independent non-executive Director, a member of the audit committee (the "Audit Committee") of the Board, the chairman of the remuneration committee (the "Remuneration Committee") of the Board and a member of the nomination committee (the "Nomination Committee") of the Board in order to devote more time for his own business commitments. The Board further announces that, with effect from 18 January 2021, Mr. Chan Ka Leung Kevin ("Mr. Chan") has been appointed as an independent non-executive Director. Mr. Chan has over 20 years of experiences in corporate finance. He is currently a responsible officer of a corporation licensed under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO") to conduct type 6 (advising on corporate finance) regulated activity. The Board also announced that, with effect from 18 January 2021 Ms. Yuan Yuan ceased to be the chairlady of the Nomination Committee and will remain as a member of the Nomination Committee; and Mr. Chan has been appointed as a member of the Audit Committee, the chairman of the Remuneration Committee and the chairman of the Nomination Committee.