QKL Stores Inc. announced that on May 3, 2016, Tsz Fung Philip Lo, Cheng Kam Ho and Jingyuan Gao provided the company with notices of their resignation from the board of directors, effective immediately. In addition, on that same date, Tsz-Kit Chan resigned as the company's CFO. Zhuangyi Wang, the company's CEO, will also assume the position of the company's CFO, effective immediately.