The board of directors of Man Wah Holdings Limited announced that with effect from 31 March 2018, for the purpose of pursuing other career development opportunities, Mr. Wang Guisheng will resign as an executive Director, a member of each of the remuneration committee and the nomination committee, the chief financial officer of the company and all other directorships and positions held by Mr. Wang within the Group or with associated companies of the Group in Hong Kong, Mainland China and elsewhere will cease accordingly. The Board further announced that it has resolved to appoint Mr. Tsang Hoi Lam (Mr. Tsang) as an executive Director of the Company, a member of each of the Remuneration Committee and the Nomination Committee, and the chief financial officer of the Company with effect from 31 March 2018. Mr. Tsang Hoi Lam has joined the company as the deputy chief financial officer since April 2017.

Mr. Tsang is also a supervisor of a subsidiary of the Group, Chongqing Carnival Home Branding Management Company Limited. Mr. Tsang is a member of the Hong Kong Institute of Certified Public Accountants. Prior to joining the Company, Mr. Tsang was a deputy financial controller of a subsidiary of Lee & Man Paper Manufacturing Company Limited.

Prior to that, he served as an audit manager in Deloitte Touche Tohmatsu from September 2009 to September 2013.