Fuqi Chief Financial Officer Resigns Over Health

Fuqi International announced Aug. 4 that Frederick Wong
resigned from his position as chief financial officer because of personal
health reasons, effective July 31.

Wong will continue to work for the company serving in a
non-executive management role and will continue to assist in the transition of
his CFO responsibilities after his resignation date.

“I would like to thank Fred for his years of service
and valuable contributions to the company,” Yu Kwai Chong, chairman of the
board, said in a statement. “We are taking the appropriate steps to ensure that
his role is properly transitioned and look forward to appointing a new and
highly qualified replacement in the near future.”

The company is in the process of identifying qualified
successor candidates for the position. Kim K. T. Pan, Fuqi’s president and CEO,
will serve as the interim CFO until a permanent replacement is appointed.