The board of directors of Carnival Group International Holdings Limited announced that with effect from 26 October 2017: Mr. King Pak Fu resigned as chief executive officer of the company as he would like to commit more time to his role as chairman of the Board and executive Director; and Mr. Wang Chunning was appointed as an executive Director and chief executive officer of the company. Mr. King remained as chairman of the Board and executive Director after his resignation as chief executive officer of the company. Mr. King has confirmed to the Board that he has no disagreement with the Board or the Company and that there is no matter in respect of his resignation as chief executive officer of the Company that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

Mr. Wang served as general manager in the finance department, structure and lever financing department and ship finance department of China Minsheng Banking Corporation Limited Hong Kong Branch respectively from June 2012 to December 2015, where he was responsible for financing for overseas merge and acquisition and large-scale projects. He joined Shanghai branch of Evergrowing Bank Co. Ltd. in January 2016 and served as governor assistant from May 2016 to September 2017, where he was responsible for corporate business.

Mr. Wang has over 15 years of experience in finance.