The board of directors of Luen Thai Holdings Limited announced the following changes in the company's directorship and committee composition with effect from 15 February 2017: Mr. TAN Siu Lin has resigned as the chairman and a member of the bank facility committee of the company; Mr. TAN Henry has resigned as an executive Director, and a member of each of the Bank Facility Committee, the nomination committee of the company and the remuneration committee of the company; Mr. TAN Willie has resigned as a non-executive Director; Mr. LU Chin Chu has resigned as a non-executive Director; the Bank Facility Committee will be cancelled; Mr. SHEN Yaoqing has been appointed as an executive Director; Mr. TAN Siu Lin has ceased to act as the chairman of the Board and Mr. SHEN Yaoqing has been appointed as the chairman of the Board; Mr. SEING Nea Yie has ceased to act as the chairman of the Nomination Committee and Mr. SHEN Yaoqing has been appointed as the chairman of the Nomination Committee; Mr. QU Zhiming has been appointed as an executive Director and a member of the Remuneration Committee; and Mr. HUANG Jie has been appointed as a non-executive Director and a member of the audit committee of the company. Between May 2013 and May 2016, Mr. Shen acted as the director of Shanghai Shenda Co. Ltd. Mr. Currently, Mr. Qu also serves as the vice board chairman of Shangtex (Hong Kong) Limited, an executive director of Shanghai Textile Decoration (Group) Co., Limited and the board chairman of Wiseknit Factory Limited, and is mainly responsible for the operations management of the group's foreign trade enterprises as well as the management of its overseas mergers and acquisitions projects. Since January 2014, Mr. Huang has been acting as the executive general manager of the trading and internationalisation division of Shangtex Holding Co. Ltd. alongside his position as the general manager of Shangtex (Hong Kong) Limited, taking charge of the transformation and upgrading of the group's foreign trade business as well as the business operations of its overseas companies. Mr. Shen, Mr. Qu and Mr. Huang is appointed for a term of 3 years commencing from 15 February 2017, subject to retirement by rotation and be re-election by Shareholders at the annual general meetings of the company.