The board of directors of Royale Furniture Holdings Limited announced that on February 1, 2016, Mr. Tse Wun Cheung has resigned as executive Director of the Company but Mr. Tse would remain as a director of several subsidiaries of the Company. Mr. Tse confirmed that due to his health reasons, he has resigned as an executive Director, and he has no disagreement with the Board and there are no other matters in respect of his resignation that should be brought to the attention of the shareholders of the Company. The Board announced that Mr. Tse Hok Kan has been appointed as executive Director of the Company with effect from February 1, 2016.

Mr. Tse Hok Kan, aged 32, holds a Master of Science in Accounting from The Hong Kong Polytechnic University and a Bachelor of Business Administration – joint major in accounting and finance from Simon Fraser University in Canada. He is a director of Hong Kong Furniture Association. Mr. Tse Hok Kan had worked for an international accounting firm before joining the Company in 2010.

Mr. Tse Hok Kan has worked in the production department and is now taking a leading role in the development and marketing department of the Group. Mr. Tse Hok Kan is the director/legal representative of certain subsidiaries of the Company, including Guangzhou Yufa Furniture Limited, Guangzhou Fuli Furniture Company Limited and Guangzhou Royal Palace Hotel. Mr. Tse Hok Kan is the son of the Chairman, Mr. Tse Kam Pang.