The board of directors of YGM Trading Limited announced that Mr. Sze Cho Cheung, Michael has resigned as an independent non-executive Director and Mr. Li Guangming has been appointed as an independent non-executive Director of the company with effect from 2 January 2018. Mr. Li has over 40 years' experience in the cotton textile industry. He was appointed as deputy chief of No. 1 Cotton Textile Factory of Wuxi City in July 1984 and chief of factory in February 1991. He has held various positions in Wuxi City Guolian Development (Group) Company Limited and its subsidiaries. Mr. Lin Keping has been appointed as the chairman of the remuneration committee of the company with effect from 2 January 2018. Mr. Li Guangming has been appointed as a member of the remuneration committee, the nomination committee and the audit committee of the company, all with effect from 2 January 2018.