The board of directors of Top Spring International Holdings Limited announced that with effect from 1 March 2018, Mr. CHEN Feng Yang (‘Mr. Fiscal Year Chen') has resigned as an executive Director and one of the co-chief executive officers of the company; and Mr. WANG Tian Ye (‘Mr. Wang') has resigned as an executive Director and one of the authorized representatives of the company. Both Mr. Fiscal Year Chen and Mr. Wang will be predesignated as senior advisers of the company following their resignation as executive Directors. Following Mr. Fiscal Year Chen's resignation as an executive Director and a co-chief executive officer, Mr. WONG Chun Hong, the chairman of the Board and an executive Director, has remained as the sole chief executive officer of the company.

The Board also announced that Mr. CHEN Zhi Xiang (‘Mr. ZX Chen') and Ms. LAM Mei Ka Shirley (‘Ms. Lam') have been appointed as executive Directors with effect from 1 March 2018. Mr. ZX Chen will oversee the Group's property business operations in the PRC while Ms. Lam will oversee the elderly care, education and other new business operations as well as the Hong Kong business operations of the Group. Mr. ZX Chen is currently the assistant president of the company.

Mr. ZX Chen joined the company in 2010 and served various senior managerial positions before he was appointed as the assistant president of the company in 2016. Prior to joining the company, Mr. ZX Chen was a project manager in an accounting firm in the PRC, a finance manager of Hucais Printing Company Limited and a senior finance manager in Shenzhen Vanke Real Estate Company Limited. He is currently a supervisor of Rainbow Department Store Co.

Ltd. Ms. Lam is currently the managing director of Top Spring Healthcare Holdings (Hong Kong) Company Limited and oversees the education and healthcare services business operations of the Group. Prior to joining the company in October 2017, Ms. Lam served senior managerial positions in a number of blue-chip property developers in Hong Kong, including Techno Factor (Development) Limited, New World Development China Limited, Hopewell Real Estate Agency Limited and MTR Corporation Limited. She has accumulated over 20 years of management experience in real estate industry with focus in real estate development, asset management and retail management.

Ms. Lam is a member of Royal Institute of Chartered Surveyors and Chartered Institute of Housing. Mr. Wang has ceased to be one of the authorized representatives of the company with effect from 1 March 2018 and Mr. YUAN Zhi Wei ('Mr. Yuan'), an executive Director, has been appointed as an authorized representative of the company in place of Mr. Wang with effect from the same date.