Wong resigns from China Mandarin board

Stepped down from chairmanship earlier this year

HONG KONG -- Raymond Wong Pak-ming has resigned from the board of China Mandarin, formerly Mandarin Films, the well-known Hong Kong production company he founded 20 years ago.

Wong's immediate departure is "due to his personal commitments in film industry which require more of his dedications," according to a company statement. He resigned as chairman earlier in the year and has launched a new company Pegasus Films with his son and "Ip Man" screenwriter Edmond.

Wong, who was last year paid HK$1.96 million ($253,000) by Mandarin, still retains a 10.5% stake in the group, which produced Cantonese-language classics including "Dragon Tiger Gate," "All's Well Ends Well" and "The Bride With White Hair."