The board of Shun Cheong Holdings Limited announced that, due to their personal endeavors and/or desire to devote more time to their other commitments, Ms. Cao Jing (`Ms. Cao') has resigned as an executive director and the executive chairman of the company, Mr. Zhang Shaohua (`Mr. Zhang') has resigned as an executive director and the managing director of the company, Mr. Mo Tianquan (`Mr. Mo') has resigned as a non-executive director of the company, Mr. Ye Jianping (`Mr. Ye') has resigned as an independent non-executive director of the company, and Mr. Derek Myles Palaschuk (`Mr. Palaschuk') has resigned as an independent non-executive director of the company, all of which with effect from August 26, 2016. Ms. Cao, Mr. Zhang, Mr. Mo, Mr. Ye, and Mr. Palaschuk (together, the `Departing Directors') have confirmed that they have no disagreement with the board, and there are no matters with respect to their resignations that need to be brought to the attention of the shareholders of the company. The board announced that Mr. Wang Jingbo has been appointed as the chairman of the board with effect from August 26, 2016.