The board of directors of KWG Group Holdings Limited announced that Mr. Tsui Kam Tim (Mr. Tsui) will become senior consultant of the Group (Senior Consultant'') and will leave his position as (i) an executive Director; (ii) chief financial officer of the Group; (iii) company secretary of the Company (Company Secretary); (iv) one of the authorized representatives of the Company as required under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited; and (v) the authorized representative for accepting service of process and notices on behalf of the Company as required under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the Companies Ordinance'') and Rule 19.05(2) of the Listing Rules with effect from 12 August 2019 as Mr. Tsui would like to focus more on his Senior Consultant role. Ms. Huang Yanping (Ms. Huang''), vice president of the finance department of the Group, shall perform the financial management duties upon Mr. Tsui's resignation as the chief financial officer. Mr. Yao Zhimin (Mr. Yao''), vice president of the treasury department of the Group, shall perform the management of treasury duties upon Mr. Tsui's resignation as the chief financial officer.

Mr. Chan Kin Wai (``Mr. Chan''), aged 38, deputy finance director of the Group, will be appointed as (i) company secretary of the Company; (ii) one of the authorized representatives of the Company as required under Rule 3.05 of the Listing Rules; and (iii) the authorized representative for accepting service of process and notices on behalf of the Company under the Companies Ordinance and Rule 19.05(2) of the Listing Rules upon Mr. Tsui's resignation as Company Secretary and Authorized Representatives of the Company.