The board of directors of Winox Holdings Limited announced that Mr. Ma Weihua (Mr. Ma) has resigned as an independent non-executive director, a member of Audit Committee, Nomination Committee and Remuneration Committee of the Company due to his other business engagements, with effect from 24 March 2015. Mr. Ma has confirmed that he has no disagreement with the Board and there are no other matters that need to be brought to the attention of the shareholders of the Company in relation to his resignation. The Board announced that Mr. Wu Ming Lam (Mr. Wu) has been appointed as an independent non-executive director, a member of Audit Committee, Nomination Committee, and Remuneration Committee of the Company, with effect from 24 March 2015.

Mr. Wu, aged 68, has more than 30 years of experience in the industry of industrial products manufacturing. Mr. Wu has founded a number of corporations engaging in industrial production and investment business in Hong Kong since 1976. Currently, he serves as a director in Full Tat Company Limited, Cadilac Enterprises Limited, Roysun Development Company Limited, Cearns Co., Limited, Kowloon Spring Factory Limited, and Eastern Rainbow Precision Limited, and is in charge of resources management for those corporations, and participates in the development of company's strategies.

Mr. Wu has entered into an appointment letter with the Company as an independent non- executive director of the Company, for a term of three years with effect from 24 March 2015. The Board announced that Mr. Li Chin Keung (Mr. Li) and Ms. Yiu Ho Ting (Ms. Yiu) have been appointed as executive directors of the Company, with effect from 24 March 2015. Mr. Li, aged 46, has been the general manager of Winox Enterprise Company Limited (Winox Enterprise) and Winox Watch Manufactory (Dongguan) Limited (Winox Watch), both being the wholly-owned subsidiaries of the Company, since July 2010, in charge of overall management of the Group.