The board of directors of Century Ginwa Retail Holdings Limited announced the resignation of Mr. Cao Yonggang, a non-executive director of the company, as a member of the audit committee of the Board with effect from 16 January 2019 to allow him to devote more of his time to his business endeavours. Mr. Cao will remain as a member of the nomination committee of the Board. Mr. Cao has confirmed that he has no disagreement with the Board and that there is no matter relating to his resignation as a member of the Audit Committee that needs to be brought to the attention of the shareholders of the company or The Stock Exchange of Hong Kong Limited. The Board also announces the appointment of Mr. Tsang Kwok Wai, an independent non-executive director of the company and a member of the Audit Committee, as the chairman of the Audit Committee with effect from 16 January 2019.