The board of directors of Neway Group Holdings Limited announced that Mr. Cheng Chi Wai resigned as an independent non-executive Director, the chairman of the remuneration committee of the Board and a member of the audit committee of the Board, with effect from November 26, 2013 due to his other business engagements which require more of his dedications. The Board further announced that the composition of the Audit Committee and the Remuneration Committee would be changed with effect from November 26, 2013 following the resignation of Mr. Cheng. Mr. Cheng ceased to be a member of the Audit Committee and the chairman of Remuneration Committee and Mr. Lee Kwok Wan was appointed as the chairman of the Remuneration Committee.