The board of directors of Wisdom Sports Group announced that Mr. Hu Xing has resigned as an executive director of the Company with effect from September 18, 2015 in order to devote more time to his family in Hong Kong. The Board announced that Mr. Hu Jianguo has resigned as an independent non-executive director of the Company with effect from September 18, 2015 due to health reasons. The Board announced that Mr. Li Qingbo has resigned as chief financial officer of the Company with effect from September 18, 2015 due to personal reasons.

In addition, Ms. Huang Dan has been appointed as chief financial officer of the Company with effect from September 18, 2015. Ms. Huang Dan, aged 33, is currently the financial controller of the Company. Prior to joining the Group, Ms. Huang worked as a manager of PricewaterhouseCoopers Zhong Tian LLP.