The board of directors of CWT International Limited announced that Mr. Xu Haohao (Mr. Xu) has ceased to be a Co-Chairman of the Board with effect from 25 June 2019, but remains as an Executive Director of the company, as well as the chairman of each of the Nomination Committee, Executive Committee and Investment Committee, and a member of Remuneration Committee of the company. The Board also announced that Mr. Ding Lei, an existing Executive Director of the company, has been appointed as a Co-Chairman of the Board with effect from 25 June 2019, and his position as the Executive Vice President of the company has ceased accordingly. Mr. Ding and Mr. Mung Kin Keung, another Co-Chairman of the Board, will both be Co-Chairmen and they will together provide leadership to the Board.