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Issued by: Chang Wah Electromaterials Inc.
Issued on: March 8, 2023

In consideration of the Company’s future developments and business heritage, CWE Group has recently carried out a series of adjustments within the senior management team. Chairman and President of CWE Canon Huang will resign from his position as Chairman and become a full-time President to focus on the core business and the Group’s business strategy as well as improve corporate governance. A board meeting will be held immediately after the shareholders’ meeting to elect a new Chairman, and the plan is for Chuen-Sing Hung, the current President of Chang Wah Technology Co., Ltd. (hereinafter referred to as “CWTC”), to assume the role of the Chairman.

At the same time, Vice Chairman of CWE Chuen-Sing Hung will resign from his position as a natural-person director and Vice Chairman. His resignation will take effect on June 12, 2023 when a by-election of a director is held in the shareholders’ meeting. The director vacancy as a result of his resignation will be changed from a natural-person director to a representative of juridical-person director.

In addition, Canon Huang has resigned from his position as Chairman of the equity-method investee JMC Electronics Co., Ltd. on March 3, 2023, and the resignation will take effect on March 14, 2023 when the board elects a new Chairman. However, Canon Huang remains a director. The plan is for Wan-Wen Tsai, the President of Tian Zheng International Precision Machinery Co., Ltd., to assume the role of JMC’s new Chairman.

There are no significant adjustments within the senior management team of CWE Group’s major subsidiary, CWTC. Canon Huang remains the Chairman with Chuen-Sing Hung serving as the President.