Shanghai Zendai Property Limited announced that, Mr. Zhang Huagang has resigned as an executive Director and a chief executive officer of the Company due to his intention to devote more time to his own business with effect from 8 April 2020. The Board announced that, with effect from 8 April 2020, Mr. He Haiyang has been appointed as an executive Director and a chief executive officer of the Company. Mr. He joined China Orient Summit Capital Co.

Ltd. (40% of which is directly held by China Orient Asset Management (International) Holding Limited) in March 2014, and currently serves as the director. From July 2013 to February 2014, Mr. He served as the vice president of Faith Capital Management Co. Ltd. and was responsible for domestic investment business in China.