CWT International : Announcements and Notices - Voluntary Announcement - Change of Chief Financial Officer

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CWT INTERNATIONAL LIMITED

(Receivers appointed)

(Incorporated in Hong Kong with limited liability)

(Stock Code: 521)

VOLUNTARY ANNOUNCEMENT

CHANGE OF CHIEF FINANCIAL OFFICER

The board of directors (the "Board") of CWT International Limited (Receiver appointed) (the "Company") announces that, due to adjustment of work arrangements, Mr. Zhao Lei ("Mr. Zhao") has resigned as the chief financial officer of the Company with effect from 10 June 2019.

Mr. Zhao has confirmed that there is no disagreement with the Board and there are no other matters in relation to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

The Board is pleased to announce that Mr. Wu Jinfeng ("Mr. Wu") will be appointed as the chief financial officer of the Company with effect from 10 June 2019.

Mr. Wu holds a bachelor's degree in finance and accounting from University of International Business and Economics. He is a certified internal auditor of the Institute of Internal Auditors, and obtained the certificate of securities practice qualification and the certificate of futures practice qualification from the Securities Association of China and China Futures Association, respectively. Mr. Wu joined HNA Group Co., Ltd.* (海航集團有限公司), a substantial shareholder of the Company within the meaning of Part XV of the Securities and Futures Ordinance, in 2011 and has served senior positions for its certain companies. Currently, he is the executive deputy general manager of the finance and planning department of HNA Group (International) Company Limited, which is also a substantial shareholder of the Company. Mr. Wu has extensive management knowledge and working experience in accounting, finance, treasury and risk management.

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The Company would like to express its sincere appreciation to Mr. Zhao for his contribution to the Company during his tenure of office, and would like to take this opportunity to congratulate Mr. Wu on his appointment.

By order of the Board

CWT INTERNATIONAL LIMITED

(Receivers appointed)

Mung Kin Keung

Executive Director

Hong Kong, 10 June 2019

As at the date of this announcement, the Board comprises Mr. Xu Haohao (Executive Director and Co-Chairman), Mr. Mung Kin Keung (Executive Director and Co-Chairman), Mr. Li Tongshuang (Executive Director and Chief Executive Officer), Mr. Zhao Quan (Executive Director), Mr. Ding Lei (Executive Director and Executive Vice President), Mr. Mung Bun Man, Alan (Non-executive Director), Mr. Leung Shun Sang, Tony (Independent Non-executive Director), Mr. Liem Chi Kit, Kevin (Independent Non- executive Director) and Mr. Lam Kin Fung, Jeffrey (Independent Non-executive Director).

*for identification purpose only

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