The board of directors of Central China Real Estate Limited announced that Ms. Yan Yingchun has resigned as an executive Director with effect from 21 August 2018 due to her own personal reasons after consideration her family commitments going forward. The Board announced that Mr. Wang Jun has been appointed as an executive Director with effect from 21 August 2018. Mr. Wang, aged 38, has over 15 years of experience in the real estate industry and capital market. From 2003 to 2007, Mr. Wang served in PricewaterhouseCoopers Zhong Tian CPAs Limited Company with the latest position as a senior associate; from 2007 to 2011, he served as the head of investor relations and a senior manager of the finance department in Country Garden Holdings Company Limited; and from 2011 to June 2018, he served in Morgan Stanley Asia Limited with the latest position as an executive director. He joined the company as an executive Director in August 2018.