The board of Ziwo Holdings Ltd. announced that Mr. Ting Chun Yuen (Mr. Ting) has resigned as Executive Director (ED) of the company. The board has approved Mr. Ting's resignation as ED and has re-designated Mr. Ting as Non-Executive Director (NED) of the company. The date of appointment is October 20, 2017. Following Mr. Ting's re-designation as NED, he will continue to oversee the operations of the company's subsidiaries in China, being Zhihe (Fujian) Technology Co. Ltd., Quanzhou Yi Xiang Textile Co. Ltd., and Ziwo (Fujian) Import & Export Trading Co. Ltd. The board noted that following Mr. Ting's re-designation as NED, the company does not have an ED. The board clarified that it has identified Mr. Tay Wee Kwang (Mr. Tay) to be the proposed ED and CEO of the company. However, Mr. Tay has informed the board that he will accept the appointment as ED and CEO only upon the shareholders approving the proposed change of core business of the company (or proposed diversification of business) to that of green energy (which includes but is not limited to the business of building charging systems for electric vehicles), as announced by the company on 13 July 2017.