The board of directors of Ka Shui International Holdings Limited announced that Dr. Wong Cheong Yiu (Dr. Wong) will step down from his position as the Chief Executive Officer of the company with effect from 1 June 2018 after serving in this position for three years. Dr. Wong will remain as an Executive Director, an Authorized Representative, a member of Remuneration Committee and Nomination Committee of the company and a director of certain subsidiaries of the company. Dr. Wong will concentrate on overseeing the overall operations and development of the company's subsidiaries in the United States of America. Dr. Wong has confirmed that he has no disagreement with the Board and there are no other matters that need to be brought to the attention of the shareholders of the company in relation to his stepping down from the Chief Executive Officer position. The Board expects that more time will be required to identify and appoint a suitable candidate as the Chief Executive Officer of the company. During the transitional period, Mr. Lee Yuen Fat (Mr. Lee), the Chairman and an executive director of the company, will temporarily take up the duties of Dr. Wong until a suitable candidate is appointed. The Board believes that Mr. Lee's extensive experience and knowledge, together with the support of the management, shall strengthen the solid and consistent leadership of the company and its subsidiaries, and Mr. Lee by assuming the roles of both Chairman and Chief Executive Officer would allow efficient business planning and decision, which the Board believes is in the best interest of the business development of the group during this transitional period.