The board of directors of Hop Hing Group Holdings Limited announced that, with effect from March 25, 2016, Mr. Hung Hak Hip, Peter will retire from the position as the Chairman of the Board. On the same day, Mr. Hung will also retire as a non-executive director of the Board, and cease as the chairman of the Nomination Committee and a member of each of the Audit Committee and Remuneration Committee of the company. The Board also announced that with effect from March 25, 2016, Mr. Seto, John Gin Chung, currently the Vice Chairman and an independent non-executive director of the Board and a member of each of the Nomination Committee and Audit Committee of the company, will be the Chairman of the Board; the chairman of the Nomination Committee of the company; and a member of the Remuneration Committee of the company.

On the same day, Mr. Seto will cease acting as a member of the Audit Committee of the company, but will remain as an independent non-executive director of the Board. Mr. Hung Ming Kei, Marvin, currently an Executive Director and the Chief Executive Officer of the company, has been appointed as an authorised representative of the company to replace Mr. Hung as required under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and under Rule 3.05 of the Listing Rules with effect from March 25, 2016.