Hang Fat Ginseng Holdings Company Limited announced that Ms. Fu Fung Sau has resigned as an executive Director and Mr. Wong Senta has resigned as an independent non-executive Director, both with effect from 17 May 2016 upon the Subscription Completion. Mr. George Lu has been appointed as an executive Director; Mr. Wong Kwok Ming has been appointed as an executive Director; Ms. Shen Wei has been appointed as a non-executive Director; and Mr. Li Wei has been appointed as an independent non-executive Director, all with effect from 17 May 2016 upon the Subscription Completion. Mr. Yeung Wing Yan has resigned as the chairman of the Board and the chief executive officer of the company with effect from 17 May 2016 upon the Subscription Completion (but shall remain as an executive Director).

Mr. George Lu has been appointed as the chairman of the Board and the chief executive officer of the company with effect from 17 May 2016 upon the Subscription Completion. Mr. Yeung Wing Yan has resigned as a member of the Remuneration Committee and the Nomination Committee, and Mr. Wong Senta has resigned as the chairman of each of the Remuneration Committee and the Nomination Committee, and a member of the Audit Committee, all with effect from 17 May 2016 upon the Subscription Completion. Mr. George Lu has been appointed as a member of the Remuneration Committee and the Nomination Committee, and Mr. Li Wei has been appointed as the chairman of each of the Remuneration Committee and the Nomination Committee, and a member of the Audit Committee, all with effect from 17 May 2016 upon the Subscription Completion.