The board of directors of Quali-Smart Holdings Limited announced that Madam Li has tendered her resignation as the chairperson of the company with effect from November 25, 2013 in order to dedicate more time to her personal investment portfolio. She will remain as a non-executive director. Madam Li has confirmed that she has no disagreement with the board and there are no matters relating to her resignation that needs to be brought to the attention of the shareholders of the company.

The board further announced that Mr. Lau Ho Ming, an executive director and the chief executive officer of the group, has been appointed as the executive chairman of the company with effect from November 25, 2013 and he shall cease to act as the chief executive officer of the group with effect from November 25, 2013. Mr. Lau is responsible for formulating the overall business development strategies, management team development and daily operations of the group.