The board of directors of Loco Hong Kong Holdings Limited announced that Mr. Tsang Zee Ho Paul resigned as an executive Director, chief executive officer and authorised representative of the company with effect from 31 October 2018. The resignation of Mr. Tsang was due to his other personal commitments which require more of his time and dedication. Mr. Tsang has confirmed that he has no disagreement with the Board and there is nothing relating to his resignation that needs to be brought to the attention to the shareholders of the company.

The Board further announced that Mr. Wang Wendong, an executive Director and deputy chairman of the Board, was appointed as CEO and Authorised Representative with effect from 31 October 2018. Following the changes, the Board further announced that, with effect from 31 October 2018: Mr. Tsang resigned as the chairman and member of the executive committee of the company; Mr. Wang was appointed as the chairman of the Executive Committee; and Mr. Kwan Fai, the company secretary of the company, was appointed as a member of the Executive Committee.