The board of directors of Sincere Watch (Hong Kong) Limited announced that with effect from December 10, 2016: Mr. Lau Man Tak will resign as an independent non-executive Director, the chairman of the Audit Committee, and a member of each of the Nomination Committee and the Remuneration Committee of the company; Mr. Zong Hao will be appointed as an independent non-executive Director and a member of the Audit Committee; and Mr. Chiu Sin Nang, Kenny will be appointed as an independent non- executive Director, the chairman of the Audit Committee, and a member of each of the Nomination Committee and the Remuneration Committee. Mr. Lau has tendered his resignation as an independent non-executive Director as he would like to devote more time to his personal commitments. Subsequent to his resignation, Mr. Lau ceased to be the chairman of the Audit Committee, and a member of each of the Nomination Committee and the Remuneration Committee. Mr. Zong is currently an executive director and chief executive officer of King Stone Energy Group Limited. Mr. Zong was the chief representative of Cherry Lane Music Publishing Company Inc. Beijing office from 2003 to 2010, the executive vice president of Quintana China and Taggart China LLC from 2007 to January 2013 and an independent director of Suzhou Electrical Apparatus Science Academy Co. Ltd. from 2009 to 2015. Mr. Chiu has over 20 years of experience in accounting. He has held various senior accounting and finance positions in sectors of property investment and development, information technology development business. Mr. Chiu is a fellow member of the Hong Kong Institute of Certified Public Accountants and the CPA Australia.