The board of directors of Century Ginwa Retail Holdings Limited announced that Mr. Chan Wai Kwong, Peter has been re-designated from an independent non-executive director to an executive director and the vice-chairman of the company with effect from 7 August 2015. Following his re-designation, Mr. Chan ceased to act as the chairman of the audit committee, a member of the remuneration committee and a member of the nomination committee of the company respectively. The company also announced Ms. Sun Zhili has been appointed as the chairman of the audit committee of the company with effect from 7 August 2015.

Mr. Chan was an executive director of China Solar Energy Holdings Limited from 8 April 2002 to 30 April 2012, an executive director of Zhi Cheng Holdings Limited from 8 April 2014 to 1 April 2015 and an executive director of Gold Tat Group International Limited from 27 March 2003 to 13 October 2014. Ms. Sun is currently an independent non-executive director of the company and a consultant of Jun Yang Securities Co. Limited.

Prior to that she worked as a vice president of Bosideng International Holdings Limited focusing on mergers and acquisitions and investor relationship management. Ms. Sun was also an executive director and chief financial officer of China Mass Media Corporation, and held different positions in investment banking in several banks in Hong Kong.