New Concepts Holdings Limited announced that Mr. Kwan Man Hay resigned as an executive Director with effect from 27 February 2017 but remains as the director of the subsidiaries of the company, namely New Concepts Foundation Limited and New Concepts Engineering Development Limited, for devoting more time to the development of the Group's construction work, business and daily operations. Mr. Kwan confirmed to the board that he has no disagreement with the board and is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders of the company. The resignation of Mr. Kwan as an executive Director, Ms. Qin Shulan, the executive Director of the company, is appointed as the Chief Executive Officer with effect from 27 February 2017.