Yam steps down as Success Dragon CFO after five months

Yam had served in the roles for less than six months, having only been appointed in September 2021 when Leung Lai Seung stepped down. He had previously been chief financial officer of investment holding business Creative China Holding and Secretary for Piston Holdings Group.

Despite his short time in the role, Success Dragon said that Yam confirmed that he had “no disagreement with the board and that he was not aware of other matters that need to be brought to the attention of the shareholders of the company” or Hong Kong Stock Exchange related to his stepping down.

In Yam’s place, Lau Tsz Kwan has been appointed as company secretary, but the business has not yet announced its next chief financial officer.

Success Dragon said that Lau has 15 years of professional experience in financial management, accounting and auditing for listed businesses.

“The board would like to take this opportunity to express its welcome to Mr Lau for joining the company and its gratitude to Mr Yam for his valuable contribution to the company,” it said.

In May 2021, Success Dragon had announced plans to end its gaming management contracts and focus on other sectors – such as precious metals, which had been a key driver of revenue growth in H1. 

However, it then announced in September that it would extend its deals with its gaming clients, as they were “yet to identify new supplier(s) to replace the group”. These deals will last until June 2022.