The board of directors of Yat Sing Holdings Limited announced that with effect from 14 January 2017, Mr. Lai Aizhong ("Mr. Lai") resigned as an executive Director of the Company (the "Executive Director") and the chairman of the Board (the "Chairman") and ceased to be the chairman of the nomination committee of the Board (the "Nomination Committee"), an authorized representative of the Company pursuant to Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange and an authorized representative for the service of process and notice under the Companies Ordinance; Mr. Kan Yiu Keung ("Mr. Kan") resigned as an Executive Director and the chief executive officer of the Company (the "Chief Executive Officer"); Mr. Chan Lo Kin ("Mr. Chan") resigned as an Executive Director and ceased to be a member of the remuneration committee of the Board (the "Remuneration Committee"); Mr. Liu Winson Wing Sun ("Mr. Liu") resigned as an Executive Director; Mr. Kan Yiu Kwok resigned as a non-executive Director of the Company (the "Non-Executive Director"); and Ms. Tong Sze Wan ("Ms. Tong") resigned as an independent non-executive Director of the Company (the "INED") and ceased to be the chairman of the audit committee of the Board (the "Audit Committee") and a member of each of the Remuneration Committee and the Nomination Committee. The Board also announced that with effect from 14 January 2017, Mr. Dai Jian has been appointed as the Chairman, an Executive Director, the Chief Executive Officer, the chairman of the Nomination Committee, the LR Authorised Representative and CO Authorised Representative; Mr. Dai Jialong has been appointed as an Executive Director; Mr. Chan Foon has been appointed as an INED, the chairman of the Audit Committee and a member of each of the Remuneration Committee and the Nomination Committee; and Ms. Song Dan has been appointed as a member of Remuneration Committee. Mr. Dai Jian has been an executive director and general manager of HekouJinxin Mining Limited Company since September 2016.

Mr. Dai Jialong is the chairman of Jiangyin Youjia and the chief executive officer of China Crystal. Mr. Chan Foon has been an independent non-executive director of China Crystal since July 2012.