09:13 SKYWORTHDIGITAL<00751> - Announcement (1) The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. SKYWORTH DIGITAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (Stock Code: 751) APPOINTMENT OF DIRECTORS AND UPDATE ON THE TRADING STATUS OF THE COMPANY The Board is pleased to announce that Mr. Wang Dianfu, Mr. Leung Chi Ching, Frederick and Mr. Zhang Xuebin have been appointed as executive Directors with effect from 14 January 2005. Mr. Wang Dianfu has also been appointed as the executive Chairman of the Board with effect from the same date. Trading in the Shares has been suspended with effect from 9:44 a.m. on 30 November 2004 and will remain suspended until further notice. Reference is made to the announcement of the Company dated 22 December 2004 (the "Announcement"). The board (the "Board") of directors (the "Directors") of Skyworth Digital Holdings Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce that Mr. Wang Dianfu, Mr. Leung Chi Ching, Frederick and Mr. Zhang Xuebin have been appointed as executive Directors with effect from 14 January 2005. Mr. Wang Dianfu has also been appointed as the executive Chairman of the Board with effect from the same date. The brief biographies of Mr. Wang Dianfu, Mr. Leung Chi Ching, Frederick and Mr. Zhang Xuebin are set out below. Mr. Wang Dianfu ("Mr. Wang"), aged 69, graduated from * (the Beijing Institute of Technology). Mr. Wang has extensive experience in the electronics industry. He was the Senior Engineer and Chief Executive Officer of * (the Beijing Broadcasting Equipment Factory) from 1979 to 1991 and the Chairman and General Manager of Shenzhen Electronics Group Co., Ltd. (*) from February 1993 to March 2000. Shenzhen Electronics Group Co., Ltd. is an electronics company in Shenzhen, the People's Republic of China (the "PRC"), with three subsidiaries listed on the Shenzhen Stock Exchange. Mr. Wang is currently the authorized representative of the Shenzhen Electronic Chamber of Commerce and the Vice President of China Electronic Chamber of Commerce. Mr. Wang joined the Group as Chief Executive Officer of the Company on 7 December 2004 and has been appointed as an executive Director and executive Chairman of the Board with effect from 14 January 2005. Mr. Wang is responsible for the formulation of corporate strategy and future direction of the Group. He is also responsible for the business operation and strategic planning and is currently a director of certain subsidiaries of the Company. Pursuant to the service agreement entered into between Mr. Wang and the Company, Mr. Wang shall hold office as an executive Director and Chief Executive Officer for a period up to 6 December 2006 inclusive, and his appointment will be automatically renewed for further terms of two years upon expiry unless terminated according to the terms contained therein. He is entitled to a remuneration of HK$1,600,000 per annum and discretionary bonus to be determined by the Board. Save as disclosed above, Mr. Wang has not held any directorships in any listed public companies in Hong Kong in the last three years. Save for his employment with the Group as described above, Mr. Wang does not have any other relationship with the Company, the controlling shareholder of the Company, or the former and existing directors of the Group and their respective associates. As at the date of this announcement, Mr. Wang is not interested in any shares of the Company (the "Shares") within the meaning of Part XV of the Securities and Futures Ordinance (the "SFO"). Mr. Leung Chi Ching, Frederick ("Mr. Leung"), aged 46, is an associate member of the Hong Kong Institute of Certified Public Accountants, a member of the American Institute of Certified Public Accountants and the Hong Kong Securities Institute. He has approximately 15 years' experience in corporate finance, banking and accounting. Mr. Leung joined the Group as director of finance of the Company on 20 December 2004 and has been appointed as an executive Director with effect from 14 January 2005. He is responsible for overseeing the finance functions, corporate governance matters and investor relationship management of the Group. He is currently the company secretary of the Company and director and/or company secretary of certain subsidiaries