The board of directors of Zhidao International (Holdings) Limited announced that Mr. Tung Yee Shing has tendered his resignation as the executive director and chairman of the company, member of remuneration committee of the Board and an authorised representative of the company under Rule 3.05 of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited with effect from 11 December 2017 due to his commitment in his own business which requires more of his dedication. The Board also announced that Mr. Fung Kwok Kit has been appointed as the chairman of the company, member of remuneration committee of the Board and an Authorized Representative of the company with effect from 11 December 2017. Mr. Fung is currently the executive director of the company.