The board of directors of Sheung Yue Group Holdings Limited announced that Mr. SIU Miu Man ("Mr. Siu") has resigned as an independent non-executive director of the company with effect from 22 January 2018 to pursue other business commitments. After his resignation becomes effective, Mr. Siu would also cease to be the chairman of the remuneration committee of the board, a member of the audit committee of the board and a member of the nomination committee of the board. The board also announced that Mr. WONG Yip Kong ("Mr. Wong") has been appointed as an independent non-executive director with effect from 22 January 2018. He is currently the managing director of John Kaiser-Time Limited which is principally carrying out the business of manufacture and exportation of watches. Mr. Wong is currently a member of the Watches & Clocks Advisory Committee of Hong Kong Trade Development Council, the co-chairman of Hong Kong Watch & Clock Fair Organising Committee of Hong Kong Trade Development Council and a member of QTS Sub-Committee of Hong Kong Tourism Board. The board is announced that Mr. Wong, an independent non-executive director, has been appointed as the chairman of the remuneration committee, a member of the audit committee and a member of the nomination committee, with effect from 22 January 2018.