The board of directors of Celestial Asia Securities Holdings Limited announced that Mr. Li Shing Wai Lewis, currently the chief financial officer of the Group, has been appointed as executive director of the company with effect from 9 September 2020; and Mr. Ng Hin Sing Derek has resigned as executive director of the company with effect from 9 September 2020. Mr. Ng will focus on corporate development and management of CASH Financial Services Group Limited as executive director. Mr. Li, aged 47, is appointed as an executive director of the company. He is also an executive director of CFSG, and the chief financial officers and directors of subsidiaries of the Group and CFSG's group. Mr. Li is in charge of the overall financial and accounting management of the Group. He has extensive experience in the fields of financial and accounting management. Save as acting as executive director of CFSG with effect from 2 September 2019. Mr. Li has not held any other directorships in listed public companies during the three years preceding the date of this announcement. Mr. Li has entered into a service contract with the Company for a term of three years with effect from the date of his appointment and shall be terminated by three months' prior notice in writing served by either party on the other. The service contract will be renewable automatically for successive terms of three years upon expiry of the term of the appointment. Mr. Li is subject to the retirement by rotation and re-election pursuant to the bye-laws of the company.