The board of directors of Ascent International Holdings Limited announced that with effect from 18 October 2017, Mr. Shen Xiao has been appointed as an independent non-executive director of the company, the member of each of the audit committee, nomination committee and remuneration committee of the company. Mr. Shen had 15 years of working experience in the investment banking sector with BOC International Holdings Limited, Credit Lyonnais Securities (Asia) Limited (CLSA) and J.P. Morgan Securities (Far East) Limited, which he was responsible for handling corporate finance matters and cross-border merger and acquisitions transactions for the companies in the PRC. He is currently an executive director and president of TUS International Limited.