The board of directors of SMI Holdings Group Limited announced that Mr. CHENG Chi Chung ceased to be the chairman of the board and remains as an executive director of the company with effect from September 5, 2017 and Mr. WAI Yee Tai will be appointed as an executive director and executive chairman of the board with effect from September 5, 2017. Mr. Wai is an executive director of private wealth management, Institutional Equity Division of Morgan Stanley Asia Limited from 2015.