China Outfitters Holdings Limited announced that Mr. Peter Lo has tendered his resignation as the chairman of the company and an executive Director with effect from 22 June 2018. Upon his resignation, Mr. Lo ceased to act as the chairman and a member of the nomination committee of the Board and an authorised representative of the company under Rule 3.05 of the Rules Governing the Listing of the Securities on The Stock Exchange of Hong Kong Limited and a person authorised to accept service of process and notices on behalf of the company in Hong Kong under Rule 19.05(2) of the Listing Rules and Part 16 of the Companies Ordinance. Mr. Lo also resigned from all director positions in the subsidiaries of the company with effect from 22 June 2018. Mr. Lo tendered his resignation as the Chairman and an executive Director due to other business commitments which require more of his attention and dedication. Following Mr. Lo's resignation, Mr. Zhang Yongli, the Chief Executive Officer and an executive Director, has been appointed as the Chairman and the chairman and a member of the Nomination Committee in place of Mr. Lo with effect from 22 June 2018. The Board believes that vesting the roles of the Chairman and CEO in the same person provides the Group with strong and consistent leadership and allows for efficient business planning and decisions under current situation. With effect from 22 June 2018, each of Mr. Lo and Mr. Sun David Lee has ceased to act as the authorised representatives of the company, and each of Ms. Huang Xiaoyun, an executive Director, and Ms. Li Rita Yan Wing, the company secretary of the company, has been appointed as the authorised representatives of the company under Rule 3.05 of the Listing Rules. Ms. Li has also been appointed as a person authorised to accept service of process and notices on behalf of the company in Hong Kong under Rule 19.05(2) of the Listing Rules and Part 16 of the Companies Ordinance.