The board of directors of Prosperity International Holdings (H.K.) Limited announced that with effect from January 18, 2016, Mr. Wu Likang has resigned as the general manager and chief operating officer of the mineral division of the company and has been re-designated from an executive Director to a non-executive Director of the company in order to devote more time to his personal business affairs. Mr. Wu, aged 49, was appointed as an executive Director on February 1, 2014. Mr. Wu has over 25 years of extensive experience in the building materials productions and logistic development.

Prior to joining the company. Mr. Wu was appointed as an assistant to the general manager in Anhui Conch Cement Company Limited, the shares of which are traded on The Stock Exchange of Hong Kong Limited, the general manager of Anhui Xuancheng Conch Cement Co., Limited and Ningguo Cement Plant of Conch and the head of the Anhui Conch Construction Materials Design Institute. Mr. Wu also held several senior positions in Conch, including general manager in the (Yingde Dragon Mountain Cement Company Limited) and (Prosperity Conch Cement Company Limited).

Mr. Wu joined the Company as a general manager in the cement division in July 2007 until the disposal of the major cement production business to an independent third party in April 2010. Mr. Wu re-joined the Company in July 2012 as the general manager and chief operating officer of the mineral division of the company. The re-designation of Mr. Wu will take effect on January 18, 2016.