Huationg Global Limited announced the Cessation of Yuen Sou Wai as Lead Independent Director and Audit Committee Chairman. Mr. Yuen was first appointed to the Board on 11 November 2014. As part of the Board renewal process, Mr. Yuen has decided to resign.

After having interviewed Mr. Yuen and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Yuen as the Independent Director of the Company. The Company is currently in the midst of reviewing a suitable candidate to be appointed to the Board, Audit Committee, Nominating Committee and Remuneration Committee.