The board of Steed Oriental (Holdings) Company Limited announced that with effect from the close of the offers on August 12, 2016: Ms. Sun Xue Song and Mr. Xue Zhao Qiang have been appointed as executive directors; Mr. Ding Hongquan, Ms. Dong Ping and Mr. Zhu Da have been appointed as independent non-executive directors; and Mr. Huang Dong Sheng has been re-designated from an executive director to a non-executive director. The board further announced that: Ms. Wong Sut Keng and Ms. Wong Hang Kuen have resigned as executive directors with effect from the close of the offers on August 12, 2016; Mr. Chan Kai Nang, Mr. Ho Chee Mun and Mr. Yuen Kim Hung Michael have resigned as independent non-executive directors with effect from the close of the offers on August 12, 2016; and Mr. Yeung Hung Yuen will resign as an executive director with effect from August 16, 2016. Mr. Huang Dong Sheng has resigned as the chairman of the company and Ms. Sun Xue Song has been appointed as the chairman of the company and Mr. Xue Zhao Qiang has been appointed as the chief executive officer of the company, all with effect from August 12, 2016.

The board announced that with effect from August 12, 2016: Mr. Yuen Kim Hung Michael has resigned as member and chairman of the Audit Committee. Mr. Chan Kai Nang and Mr. Ho Chee Mun have resigned as members of the Audit Committee; Mr. Ding Hongquan, Ms. Dong Ping and Mr. Zhu Da have been appointed as members of the Audit Committee. Mr. Zhu Da has also been appointed as the chairman of the Audit Committee; Mr. Ho Chee Mun has resigned as member and chairman of the Remuneration Committee.

Mr. Chan Kai Nang and Mr. Yuen Kim Hung Michael have resigned as members of the Remuneration Committee; Mr. Ding Hongquan, Ms. Dong Ping and Mr. Zhu Da have been appointed as members of the Remuneration Committee. Ms. Dong Ping has also been appointed as the chairman of the Remuneration Committee; Mr. Chan Kai Nang has resigned as member and chairman of the Nomination Committee. Mr. Ho Chee Mun and Mr. Yuen Kim Hung Michael have resigned as members of the Nomination Committee; and Mr. Ding Hongquan, Ms. Dong Ping and Mr. Zhu Da have been appointed as members of the Nomination Committee.

Mr. Ding Hongquan has also been appointed as the chairman of the Nomination Committee. Ms. Wong Sut Keng and Mr. Yeung Hung Yuen have resigned as authorised representatives of the Company under the GEM Listing Rules and Ms. Sun Xue Song, the executive Director, and Mr. Lai Kin Wa, the company secretary of the Company have been appointed as authorised representatives of the Company under the GEM Listing Rules, all with effect from August 12, 2016. Ms. Wong Sut Keng has resigned as authorised representative of the Company to accept service of process in Hong Kong pursuant to the Companies Ordinance with effect from August 12, 2016.

Mr. Yeung Hung Yuen has resigned as the Compliance Officer and Ms. Sun Xue Song has been appointed as the Compliance Officer with effect from August 12, 2016.