The board of directors of Celebrate International Holdings Limited announced that Mr. Kwok Ka Chung, has resigned as an executive Director of the company with effect from 19 September 2017 due to his other business commitments. Mr. Kwok has confirmed that (i) he has no claim against the Company in respect of his resignation; ii) there is no disagreement between himself and the board; and iii) there are no matters in relation to his resignation that need to be brought to the attention of The Stock Exchange of Hong Kong Limited or the shareholders of the company. Following the resignation of Mr. Kwok, Mr. Wang Dequn has been appointed as an executive Director and the chairman of the company with effect from 19 September 2017. Mr. Wang, aged 56, served in the People's Liberation Army of the People's Republic of China in various capacities such as soldier, engineer, radio station commander and political instructor for 20 years before he founded China Veterans Capital Technology Company Limited, of which Mr. Wang is also the managing director. China Veterans is principally engaged in the new energy automotive industry, development and operation of new e-commerce platform, research and development, production and sales of mobile intelligent terminal products, and film and television media, and computer software development.