The board of directors of China Qinfa Group Limited announced that with effect from 10 December 2015: Ms. WANG Jianfei (Ms. WANG) resigned as the chief executive officer of the Company for her family reason but will remain as an executive Director of the Company and a member of each of the nomination committee and the remuneration committee of the Company; Mr. BAI Tao (Mr. BAI), currently an executive Director of the Company, has been appointed as the chief executive officer of the Company; and Mr. XU Da (Mr. XU), currently an executive Director of the Company, has been appointed as the deputy chairman of the Board.