The board of Directors of South China Assets Holdings Limited announced that Mr. Chong Man Kit has tendered his resignation as the company secretary of the company ceased to act as an authorized representative of the Company under Rule 5.24 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited; and ceased to act as an authorized representative for accepting service of process and notices on behalf of the company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (collectively, the Authorized Representatives") with effect from 7 November 2018 for devotion his time in perusing his career development. The Board also announced that Mr. Watt Ka Po James has been appointed as the Company Secretary and the Authorized Representatives with effect from 7 November 2018. Prior to the aforesaid appointment, Mr. Watt has been responsible for company secretarial matters for listed companies in Hong Kong since 1998.