The board of directors of Future Land Development Holdings Limited announced that, with effect from January 7, 2016, Mr. Wang Zhenhua has resigned as the chief executive officer of the company. Mr. Wang will remain as the chairman of the Board and an executive Director and will focus more on the long term planning and strategic development of the group. Mr. Wang's resignation is also in line with the requirements under the Code Provisions A.2.1 of the Corporate Governance Code contained in Appendix 14 to The Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited, which shall benefit the corporate governance of the company.

The Board announced that, with effect from January 7, 2016, Mr. Lv Xiaoping has been (i) redesignated from a non-executive director to an executive director; and (ii) appointed as the chief executive officer of the company. Mr. Lv, aged 54, joined the group in 2001 and has been appointed as a non-executive director since November 2012. The Board announced that, with effect from January 7, 2016, Mr. Lu Zhongming has been appointed as an executive Director and a member of the nomination committee of the company.

Mr. Lu, aged 43, is currently the chief financial officer of the company, overseeing the accounting and finance functions of the group. Mr. Lu joined the group in 2001 and has served as the finance general manager of Jiangsu Future Land between June 2002 and May 2010, a director of Jiangsu Future Land since May 2010, deputy general manager of Future Land Holdings between June 2010 and March 2015 and a supervisor of Future Land Holdings since December 2015. The Board announced that, with effect from January 7, 2016, Mr. Liang Zhicheng has resigned as an executive Director and a member of the nomination committee of the company so to devote more time for his responsibilities as the deputy general manager of Future Land Holdings.