The board of directors of Golden Wheel Tiandi Holdings Company Limited announced that Ms. Howe Sau Man retired by rotation as an independent non-executive director of the Company in accordance with the articles of association of the Company at the conclusion of the annual general meeting of the Company held on 20 May 2017 due to her desire to devote more time to her personal affairs and did not offer herself for re-election. Ms. Howe ceased to be the chairman of audit committee of the Company and a member of nomination committee of the Company at the conclusion of the AGM. The Board also has the pleasure to announce the appointment of Mr. Li Yiu Fai as an independent non-executive director, the chairman of the Audit Committee and a member of the Nomination Committee from the conclusion of the AGM. Mr. Li, aged 45, has over 20 years of experience in fund industry, with comprehensive knowledge of accounting, financing, fund operations and financial products. Mr. Li is currently a director and chief operating officer of Persistent Asset Partners Limited.