The board of directors of China Ludao Technology Company Limited announced that Mr. Wong Chi Wai has resigned from his role as an independent non-executive director, chairman of the Audit Committee and Remuneration Committee and the member of Nomination Committee of the company with effect from 1 November 2016 due to his other personal commitment. The board announced that Mr. Chan Yin Tsung has been appointed as an independent non-executive director of the Company with effect from 1 November 2016. Mr. Chan has over 14 years of experience in initial public offering, corporate merger and acquisitions, restructuring, due diligence, audit, financial modeling and business valuation. The board also announced the changes in the composition of the member of the committees with effect from 1 November 2016: Mr. Chan, the independent non-executive director, has been appointed as the chairman of the Audit Committee and Remuneration committee and the member of the Nomination Committee.