The board of directors of New Universe International Group Limited announced that Mr. XI Yu has been appointed as an executive Director and Chairman of the Board with effect from April 11, 2016. Since 22 August 2014, the Company has engaged Mr. XI as a consultant to the Group for successive terms of three months each for providing the following services to the Group upon request of the Chairman of the Board and/or the Board: providing recommendations to the Group on the objectives of the Group's future strategic development, strategies and paths to achieve such objectives; providing recommendations on other important matters of the Group as a whole; providing recommendations and advice to the Board on matters relating to the operation of the businesses of the Group; and attend meetings. The engagement has not been renewed and expired on March 31, 2016.

Mr. SUEN Ki resigned as non-executive Director with effect from April 11, 2016 due to his desire to focus the effort on his trading business. With the appointment of Mr. XI as an executive Director and Chairman of the Board, Mr. SONG Yu Qing resigned as Chairman of the Board with effect from April 11, 2016. Mr. SONG will remain as an executive Director and the Chief Executive Officer of the Company.