The board of directors of Success Universe Group Limited announced that Mr. Yim Kai Pung as tendered his resignation as an independent non-executive director of the Company with effect from 1 March 2012, since he may not have sufficient time to fulfill his duties as director of the Company brought by his business engagement and other commitments. Accordingly, he will also cease to act as the chairman and a member of the audit committee of the Board as well as a member of the remuneration committee of the Board with effect from the same date. The Board announced that Mr. Chin Wing Lok, Ambrose has been appointed as an independent non-executive director of the Company, the chairman and a member of the Audit Committee as well as a member of the Remuneration Committee with effect from 1 March 2012. Mr. Chin Wing Lok, Ambrose, aged 47, is a certified public accountant (practicing) and a fellow member of the Hong Kong Institute of Certified Public Accountants, a fellow member of The Association of Chartered Certified Accountants, The Hong Kong Institute of Chartered Secretaries and The Institute of Chartered Secretaries and Administrators as well as a certified tax adviser and a fellow member of The Taxation Institute of Hong Kong. He has over 25 years of experience in auditing, accounting and taxation. Mr. Chin is presently the sole practitioner of CNT & Co., Certified Public Accountants. Mr. Chin has entered into a service contract with the Company for a term of period from 1 March 2012 to 31 December 2012 and his term of office is subject to retirement by rotation and re-election in accordance with the bye-laws of the Company. He shall hold office until the next general meeting of the Company and will be eligible for re-election at that general meeting.