The board of directors of Huabao International Holdings Limited announced that the company has appointed Mr. LAM Ka Yu an Executive Director of the company and the son of Ms.CHU Lam Yiu ("Ms. Chu") (the Chairlady of the Board, Chief Executive Of icer ("CEO"), Executive Director and control ing shareholder of the Company), as the co-chairman of the Board (the "Co-Chairman") with effect from 1 June 2021. Mr. Lam and Ms. Chu wil provide leadership to the Board jointly. Mr. Lam wil continue to serve as the Executive Director of the company. Mr. LAM Ka Yu has been a member of the Board since November 2013. Mr. Lam is the son of Ms. Chu. He also serves as the director of Huabao Flavours & Fragrances Co. Ltd., a subsidiary of the company and the shares of which are listed on the ChiNext Market of Shenzhen Stock Exchange.