The Board of Hengdeli Holdings Limited announced that since Mr. Song Jianwen has retired as an executive Director and Mr. Chen Sheng and Ms. Zheng Yu have retired as non-executive Directors and have not offered for re-election at the Annual General Meeting, Mr. Song Jianwen ceased to be an executive Director and Mr. Chen Sheng and Ms. Zheng Yu ceased to be non-executive Directors with effect from 15 May 2013. Mr. Lee Shu Chung Stan was appointed as an executive Director with effect from 15 May 2013. Mr. Lee Shu Chung Stan is the deputy president of the Group.

He joined the Group in 2007 and is responsible for overall coordination and management of the Group's retail business and the Group's brand wholesale business. Mr. Lee has over 25 years of experience in watch manufacturing, retail and distribution.