The board of directors of JC Group Holdings Limited announced that with effect from 21 November 2015: Ms. Wong Wai Ling ("Ms. Wong") has resigned as the Chief Executive Officer of the Company but will remain as an executive Director, the Compliance Officer, a member of the Nomination Committee and the chairman of the Compliance Committee of the Company, due to the need to devote more time to pursue her other business commitments; and Mr. Wu Jian Nong ("Mr. Wu"), an executive Director, has been appointed as the Chief Executive Officer and Vice Chairman of the Company. Ms. Wong has confirmed that she does not have any disagreement with the Board and there are no matters relating to her resignation as the Chief Executive Officer that need to be brought to the attention of the shareholders of the Company (the "Shareholders") and The Stock Exchange of Hong Kong Limited. Mr. Wu Jian Nong is currently an executive Director.

The Board further announced that Mr. Chan Wai Hung, Clarence has retired as an independent non-executive Director and has ceased to be the chairman of the nomination committee, and a member of each of the audit committee, the compliance committee and the remuneration committee of the company with effect from 21 November 2015 upon expiry of his service agreement. Mr. Chan has confirmed that he does not have any disagreement with the Board and there are no matters relating to his retirement that need to be brought to the attention of the Shareholders and the Stock Exchange. Following the retirement of Mr. Chan as mentioned above, Mr. Yuan Haiyang has been appointed as the chairman of the Nomination Committee and a member of each of the Audit Committee, the Compliance Committee and the Remuneration Committee of the Company with effect from 21 November 2015.

Upon the above changes: the Audit Committee comprises three members, namely Mr. Pao Ping Wing, Mr. Yuan Haiyang and Ms. Au Man Yi, of whom Ms. Au Man Yi is the chairman; the Remuneration Committee comprises three members, namely Mr. Pao Ping Wing, Ms. Au Man Yi and Mr. Yuan Haiyang, of whom Mr. Pao Ping Wing is the chairman; the Nomination Committee comprises three members, namely Ms. Wong Wai Ling, Mr. Pao Ping Wing and Mr. Yuan Haiyang, of whom Mr. Yuan Haiyang is the chairman; and the Compliance Committee comprises three members, namely Ms. Wong Wai Ling, Mr. Yuan Haiyang and Ms. Li Yuen Shan, of whom Ms. Wong Wai Ling is the chairman.