HINSANG GROUP (06893) has announced that on April 15, 2026, the board of directors was informed that Mr. Pang Siu Yin, the company's Chairman, Chief Executive Officer, and Executive Director, is currently under criminal detention by the Public Security Bureau of the People's Republic of China. The board understands that relevant authorities are conducting an investigation, and Mr. Pang will seek legal advice regarding the matter. Based on the information currently available to the board, the alleged matter does not involve the company or any of its subsidiaries, nor is it related to the group's operations, business activities, or financial affairs. The board expects that this matter will not have any significant adverse impact on the group's operations or financial condition.

In light of Mr. Pang's inability to perform his duties as Chairman, CEO, and Executive Director due to the criminal detention, the board resolved on April 15, 2026, to suspend all of Mr. Pang's administrative and executive duties and powers as Chairman, CEO, and Executive Director, effective immediately, until further notice. The board believes that the suspension of Mr. Pang's duties and powers is in the overall best interests of the company and its shareholders.

On April 15, 2026, the board appointed Ms. Rosanna Kwan Man, an Executive Director of the company, as the Acting Chairperson of the board. Mr. Pang has ceased to serve as the authorized representative for receiving legal process documents on behalf of the company under Section 333 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong). Mr. Chan Yeung Tak, the company secretary of the company, has been appointed to replace him in this role, effective April 15, 2026.