The board of Sino Prosper (Group) Holdings Limited announced that Mr. Sung Kin Man resigned as an executive Director, chief executive officer and a member of the Remuneration Committee of the company with effect from 2 March 2015 due to his personal business reason. Mr. Sung confirmed that he had no disagreement with the Board or the company and there was no other matter relating to his resignation that needed to be brought to the attention of the shareholders of the company and The Stock Exchange of Hong Kong Limited. The Board further announced the appointment of Ms. Wong Li Fong as an executive Director and a member of the Remuneration Committee of the company with effect from 2 March 2015.

Ms. Wong, aged 48 has over 20 years of working experience in corporate and financial management. She also held financial and administrative executive positions with a variety of leading companies. She is familiar with finance, banking, corporation and human resources related work.

There was no service contract between Ms. Wong and the company in respect of the proposed length of services for the appointment of Ms. Wong as an executive Director. Ms. Wong is subject to retirement and re-election at the next following general meeting of the company after her appointment and thereafter subject to retirement by rotation in accordance with the Articles of Association of the company. The remuneration of Ms. Wong will be reviewed and recommended by the Remuneration Committee of the company with reference to her duties and responsibilities with the company and the market benchmark and shall be approved by the Board.