Citychamp Watch & Jewellery Group Limited announced that Mr. Tao Li has resigned as an executive director of the company and from all positions in the subsidiaries within the Group with effect from 23 January 2018 due to personal reasons. Mr. Tao has confirmed that he has no disagreement with the Board and there is no other matter which needs to be brought to the attention of the shareholders of the company and The Stock Exchange of Hong Kong Limited in relation to his resignation. The Board also announced that Mr. Teguh Halim has been appointed as an executive director of the company with effect from 23 January 2018. Mr. Halim joined the Group in October 2008 and has served as the vice president of the company and the vice chairman of the European Executive Board of the company before he is appointed as an executive director. Mr. Halim has gained tremendous experience in the watch industry and business management.