The board of directors of PWMedtech Group Limited announced that Mr. Lin Junshan has resigned from the position of the chairman of the Board with effect from 3 February 2015, as he would like to spend more time on his personal business. Mr. Lin continues to hold the office of non-executive director of the Company. The Board also announced that Ms. Yue'e Zhang has been elected to the office of the chairman of the Board with effect from 3 February 2015.

Ms. Zhang has also been re-designated from a non-executive director to an executive director of the Company with effect from 3 February 2015, due to the re- division of functions among directors. To satisfy relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the Listing Rules) on board committee composition, the Board also announced that with effect from 3 February 2015, (i) Ms. Zhang has ceased to be a member of the audit committee of the Board and Mr. Lin has been appointed as a member of the audit committee of the Board; and (ii) Mr. Lin has ceased to be the chairman and member of the nomination committee of the Board and Ms. Zhang has been appointed as the chairman and member of the nomination committee of the Board.