The board of directors of CHTC Fong's Industries Company Limited announced that Mr. Shi Tinghong has tendered his resignation as an Executive Director and the Chairman of the Board of the company with effect from 1 September 2015 due to his new assignment in China Hi-Tech Group Corporation. The Board announced that upon the resignation of Mr. Shi, Mr. Ye Maoxin an existing Non-executive Director and the Vice-Chairman, will be re-designated as an Executive Director and appointed as the Chairman of the Board with effect from 1 September 2015. Upon the above appointment, the position of Vice-Chairman of the Board will be eliminated on the same day.

Following the resignation of Mr. Shi as an Executive Director, he will automatically cease to be the authorised representative of the company. Mr. Ji Xin currently an Executive Director and the Chief Executive Officer of the company, will be appointed as the authorised Representative and the Authorised Representative under the Companies Ordinance with effect from 1 September 2015. Following the resignation of Mr. Shi as mentioned above, Mr. Shi will also resign as a member and the chairman of the Nomination Committee and a member of the Remuneration Committee with effect from 1 September 2015.

The Board announced that Mr. Ye will be appointed as a member and the chairman of the Nomination Committee and a member of the Remuneration Committee with effect from 1 September 2015.