The board of directors of CHTC Fong's Industries Company Limited announced that Mr. Wan Wai Yung, after having served in the Group for 38 years, resigned as an executive director of the company on 12 April 2016 due to his reaching the retirement age of 65. The board is not aware of any disagreement with Mr. Wan and there is no matter relating to his retirement that needs to be brought to the attention of the shareholders of the company.