The board of directors of Luen Thai Holdings Limited announced that Mr. Huang Jie will be re-designated from a non-executive director to an executive director of the company and he will cease to act as a member of the audit committee of the company with effect from February 15, 2020. Mr. Huang, aged 54, was appointed as a non-executive director of the Company on 15 February 2017. Mr. Huang is an economist and international business expert who graduated from China Textile University with a Bachelor Degree of Engineering in the year of 1986 (upon completion of a four year full-time programme), and obtained his MBA degree in the year of 1998 by attending an 1996 EMBA programme at China Europe International Business School as an on the-job postgraduate student. Mr. Huang has entered into a service agreement with the Company for his new role and duties as the executive director of the Company, for an initial term of three years commencing from 15 February 2020. Mr. Huang joined Shangtex Holding Co. Ltd. and its subsidiaries and has been serving at a number of Shangtex Group's subsidiaries, including acting as the deputy general manager of Shanghai Shenda Co. Ltd. between 1995 and 2000 and as the vice president and head of international business of Shanghai Dragon Corporation between 2001 and 2010, taking charge of import and export trading. Since March 2018, Mr. Huang has been acting as the president of international business unit of Orient International (Holding) Co. Ltd. alongside his position as the director and president of Shangtex (Hong Kong) Limited, taking charge of the transformation and upgrading of the group's foreign trade business as well as the business operations of its overseas companies. Mr. Huang also serves as the director of Wiseknit Factory Limited and Shangtex Investment And Trading Co. Ltd. both are subsidiaries of Orient International (Holding) Co. Ltd.