New Concepts Holdings Limited announced that the board of directors announced Cai Jianwen resigned as an executive Director with effect from September 30, 2020 for devoting more time to his other business engagement. Following his resignation, Cai will remain as a consultant to the company providing advisory services on the group's businesses. Cai ceased to be a member of the remuneration committee of the board with effect from September 30, 2020 and Lee Tsi Fun Nicholas, an executive Director, is appointed as a member of the Remuneration Committee with effect from September 30, 2020.