The board of directors of Sino-Ocean Group Holding Limited announced the following changes in corporate positions of the Company with effect from 25 March 2020: Mr. SUM Pui Ying has resigned as an executive Director and the company secretary of the company, and will cease to be an authorized representative of the Company. Mr. Sum will continue to act as the Chief Financial Officer of the Company; Mr. WANG Honghui has been appointed as an executive Director and a member of the investment committee of the company; and Mr. CHUNG Kai Cheong has been appointed as the company secretary and authorized representative of the Company. Mr. Sum has confirmed that he has no disagreement with the Board and there is no other matter in respect of his resignations that needs to be brought to the attention of the shareholders of the Company (the "Shareholders") and/or the Stock Exchange. Mr. Wang, aged 40, is the Executive President of the Company, and also the general manager of Sino-Ocean Capital Limited, an associated company of the Company. Mr. Wang joined the Company since July 2005 and had served as the investment head for the Beijing region, general manager of the secretarial administration department, general manager of the CEO management centre and general manager of capital operation department of the Company. Mr. Wang is also a director of certain subsidiaries of the Company. Mr. Wang is a non-executive director as well as a member of the nomination committee and strategic investment committee of Beijing Capital Grand Limited. The appointment of Mr. Wang as an executive Director has no specific term but is subject to retirement from office and re-election at the next general meeting of the Company in accordance with the articles of association of the Company.