SUNSHINE (00509.HK) announced that following Sheng Hong's resignation as an independent non-executive Director on September 15 last year, the number of independent non-executive Directors fell below the minimum number stipulated in Listing Rule 3.10(1); and the number of members of the Audit Committee fell below the minimum number stipulated in Listing Rule 3.21.

According to Listing Rules 3.11 and 3.23, the company should appoint a successor independent non-executive Director and a member of the Audit Committee within three months of failing to comply with Listing Rules 3.10(1) and 3.21 (i.e., on or before December 15 last year) to re-compliance with the above provisions.

As of now, the company still does not comply with the provisions of Listing Rules 3.10(1) and 3.21. The company continues to have a single-gender board, which does not comply with the provisions of Listing Rule 13.92. The company needs more time to identify potential candidates for female Directors, and it is expected to appoint a suitable female candidate as an independent non-executive Director before March 31 this year to ensure compliance with Listing Rules 3.10(1), 3.21, and 13.92.