The board of directors of Shun Cheong Holdings Limited announced that Prof. Chen Zhiwu was appointed as an independent non-executive Director and a member of each of the audit committee and the remuneration committee with effect from 31 July 2015; and Prof. Ye Jianping was appointed the chairman of the remuneration committee with effect from 31 July 2015. Prof. Chen Zhiwu, aged 54, is an expert on finance theory, emerging markets, and China's economy and capital markets. He is also Special-Term Visiting Professor at School of Economics at Peking University, and Visiting Professor and HKU-AXA Senior Fellow on China's Market Reform at The University of Hong Kong.