The board of directors of China South City Holdings Limited announced the changes in senior management of the Company, all to take effect from 1 January 2016. Mr. Leung Moon Lam will cease to act as chief executive officer of the Company but will remain as an executive director of the Company; and Mr. Fung Sing Hong Stephen (“Mr. Fung”), currently an executive director of the Company and the Group's chief financial officer, will be appointed as chief executive officer of the Company. Upon the re-designation, Mr. Leung will be responsible for the Group's overall development direction, the Group's sales and marketing strategies, banking, trade center occupants and government's relations.

Mr. Fung will be responsible for the overall management and operation of the Group, and be responsible for formulating capital market financing, merger and acquisition, and business spin-off strategies, and extending the strategic co-operations with Tencent. Mr. Fung Sing Hong Stephen, aged 50, before designated as chief executive officer, Mr. Fung is an executive director of the Company and the Group's chief financial officer. Mr. Fung joined the Group in July 2006.