The board of directors of PAX Global Technology Limited announced that as Mr. Jiang Hongchun will need to focus on the business development of the company in response to the company's development needs, Mr. Jiang has resigned his offices as an executive director and the chief executive officer of the company and been re-designated as a senior vice president of the Group with effect from May 23, 2013. Mr. Jiang has confirmed that he has no disagreement with the Board. The Board also announced that Mr. Lu Jie has been appointed as an executive director and the new chief executive officer of the company with effect from May 23, 2013.

Mr. Lu, aged 48, is the President of Pax Computer Technology (Shenzhen) Co. Ltd. He joined the Group in August 2001.