The board of directors of Goldenmars Technology Holdings Limited announced that Mr. PANG Chung Fai Benny ("Mr. Pang") has been re-designated from an independent non-executive Director to an executive Director and has been appointed as Vice Chairman of the company with effect from 26 January 2017; Mr. LAU Wan Po ("Mr. Lau") has been appointed as a non-executive Director and the vice chairman of the company with effect from 26 January 2017; Mr. MU Binrui ("Mr. Mu") has been appointed as an independent non-executive Director of the company with effect from 26 January 2017 and Mr. LAM Allan Loc ("Mr. Lam") has been appointed as an independent non-executive Director of the company with effect from 26 January 2017. Mr. PANG Chung Fai Benny was an independent Non-Executive Director of the company since June 2012. Mr. Pang has been the member of each of the Audit Committee and Remuneration Committee of the company and the chairman of the Nomination Committee of the company. Mr. Pang Chung Fai Benny has simultaneously ceased to be a member of the Audit Committee and the Remuneration Committee and a member and the chairman of the Nomination Committee following his re-designation with effect from 26 January 2017. Mr. Pang is the managing partner of Pang & Co. Mr. Lau Wan Po, aged 41, has over 16 years of experience in the investment banking industry focusing in the areas of initial public offering, merger and acquisition, corporate restructuring and other financial advisory services to listed companies in Hong Kong. Mr. Lau has been the chairman of Qian Hai Securities Limited since December 2015. He acted as the managing director of Haitong International Capital Limited and Hai Tong Capital (HK) Limited from January 2010 to November 2015. Mr. Mu Binrui, aged 60, has been appointed as the Deputy Chief Credit Officer of Bank of Communications Company Limited in 2013. Mr. Mu served as the General Manager of Credit Management Department of Bank of Communications Company Limited since October 2004. Mr. Lam Allan Loc, aged 54, was previously the country president of Chubb Life Insurance Company Limited. Prior to that, Mr. Lam served as the China Country Manager and Senior Vice President for Business Development (SEA) of BNP Paribas Cardif S.A. from November 2011 to January 2014. Mr. Lam Allan Loc has been appointed as a member of the Audit Committee and the Remuneration Committee of the company. He has been also appointed as a member and the chairman of the Nomination Committee of the company; and Mr. Pang Chung Fai Benny has simultaneously ceased to be a member of the Audit Committee and the Remuneration Committee and a member and the chairman of the Nomination Committee following his re-designation. The Board of the company announced that Shen Wei ("Ms. Shen") has resigned as an executive Director with effect from 26 January 2017 to devote more time to her other business arrangement. Ms. Shen has confirmed that there is no disagreement between herself and the Board and that there are no other matters with respect to her resignation that need to be brought to the attention of the shareholders.