The board of Directors of Well Way Group Limited announced the changes of independent non- executive Directors and composition of Board committees: Mr. Chan Ho Bun, Steve has tendered his resignation as an independent non- executive Director with effect from 11 December 2015 due to the reason that he would like to devote more time to his other business commitment. Upon Mr. Steve Chan's resignation, he also ceased to be a member of each of the audit committee and remuneration committee of the company with effect from 11 December 2015; Mr. Chan Wai Man has tendered his resignation as an independent non-executive Director with effect from 11 December 2015 due to the reason that he would like to devote more time to his other business commitment. Upon Mr. Chan's resignation, he also ceased to be the chairman of each of the Audit Committee and the Remuneration Committee and a member of the nomination committee of the company with effect from 11 December 2015; Mr. Law Kwok Ho, Kenward has been appointed as an independent non-executive Director and the chairman of the Audit Committee and a member of the Remuneration Committee with effect from 11 December 2015; and Mr. Tsai Yung Chieh, David has been appointed as an independent non-executive Director and the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee with effect from 11 December 2015.

Mr. Law, aged 43, graduated from University of New South Wales, Australia with a Bachelor of Commerce in Accountancy. He is a member of the Hong Kong Institute of Certified Public Accountants and a Certified Practising Accountant of CPA Australia. Mr. Law has experiences in auditing, taxation and finance for over 16 years.

Mr. Law is presently the general manager of a consultancy company in Hong Kong. Mr. Law did not hold any directorships in any other listed public companies in the last three years.