China Rare Earth Holdings Limited announced that Independent Non-Executive Director Mr. Man Kong Yui will step down on 31 March 2026. His departure also relinquishes his roles as chairman of the nomination committee and member of both the audit and remuneration committees, citing the need to focus on other business commitments.

Following the resignation, the board now comprises two executive directors, one non-executive director and two independent non-executive directors. This structure fails to meet three Hong Kong Listing Rules:

1. Rule 3.10(1) – requiring at least three INEDs on the board. 2. Rule 3.21 – mandating a minimum of three audit-committee members. 3. Rule 3.27A – stipulating that the nomination committee be chaired by the board chairman or an INED and have a majority of INEDs.

The company intends to identify and appoint a new INED “as soon as possible” to restore compliance and will issue further announcements when appropriate.

Trading in China Rare Earth shares has been suspended since 1:45 p.m. on 18 June 2025 and will remain halted until all resumption conditions set by the Hong Kong Stock Exchange are satisfied.

Shareholders and prospective investors are advised to exercise caution when dealing in the company’s securities.