The board of directors of Lonking Holdings Limited announced that Mr. Qiu De Bo has tendered his resignation as an executive director of the company and the chief executive officer with effect from 21 December 2015. Mr. Qiu shall focus on the international business of the group going forward upon resignation. Mr. Qiu will remain as a general manager of Lonking (Fujian) International Trade Co.

Ltd. Following Mr. Qiu's resignation, the Board has appointed Mr. Li San Yim, an executive director of the company and the chairman of the Board to act as the chief executive officer concurrently with effect from 21 December 2015. Mr. Li San Yim, is an executive director of the company, the chairman of the Board and one of the founders of the group. He has extensive experience in corporate management and is responsible for formulating the group's management philosophy and business strategies.

Mr. Li was appointed as a deputy of the 11th National People's Congress, member of the Executive Committee of the All-China Federation of Industry and Commerce, vice-chairman of the Fujian Province Federation of Industry and Commerce.