The board of directors of South China Financial Holdings Limited announced that Mr. Chan Hing Wah has resigned from his position as the chief executive officer of the company with effect from July 1, 2014 but remains as a director of the company and Ms. Yau Shing Yam Angela has been appointed as the chief executive officer of the company with effect from July 2, 2014. Ms. Yau, aged 43, has extensive management experience in the financial service industry. She was the chief executive officer of Kim Eng Securities (Hong Kong) Limited from 2011 to 2014.