The Board of China Child Care Corporation Limited announced that Mr. Li has been re-designated as an executive Director to a non-executive Director of the company with effect from June 30, 2017. Mr. Li Zhouxin, aged 33, was appointed as an executive director of the company on January 27, 2016. He was also the Chief Financial Officer of the company and resigned on April 27, 2017, primarily responsible for developing the company's strategic development plans, managing the company's financial affairs, and assessing the external investment projects and internal audit affairs.

Mr. Li joined the Group in November 2011 as the director of strategic development center of Frog Prince (China). The Board announced that Mr. Leung has been appointed as a chief financial officer of the company with effect from June 30, 2017. He has been a member of Hong Kong Institute of Certified Public Accountant since 2008 and has over 10 years of experience in accounting and auditing for Hong Kong listed and private companies.

Ms. Chan Sze Man, an independent non-executive Director has been resigned as the chairman of remuneration committee, but remain as a member of the remuneration committee of the company with effect from June 30, 2017. The Board further announced that Mr. Ma Kwun Yung Stephen, an independent non-executive Director has been appointed as the chairman of the remuneration committee of the company with effect from June 30, 2017.