The board of directors of ShiFang Holding Limited announced that the Board has approved the appointment of Mr. Ng See Yuen as an independent non-executive director and a member of the Nomination Committee of the company with effect from 20 February 2016. Mr. Ng served as an independent non-executive director of Imagi International Holdings Limited from 2004 to 2010. Mr. Ng is the Honorary Permanent President of Hong Kong Film Directors' Guild and the Chairman of Federation of Hong Kong Filmmakers.

Mr. Ng, Mr. Ng will be appointed as an independent non-executive director of the company for an initial term of three years commencing from his appointment date (that is 20 February 2016) subject to termination by either party with two months' written notice in advance. Mr. Zhou Xu Xiang will be re-designated from independent non-executive director to non-executive director and will cease to be a member of the Nomination Committee of the company with effect from 20 February 2016. Mr. Zhou is a partner of Asiabiz Capital (HK) Limited and a responsible officer licensed under the Securities and Futures Ordinance (Cap.

571 of the Laws of Hong Kong) in respect of the regulated activities Types 1, 4 and 6.