The board of directors of China Overseas Nuoxin International Holdings Limited announced that Mr. Hu Zhigang has been appointed as an independent non-executive Director, and a member of the audit committee, remuneration committee and nomination committee of the Board with effect from 24 April 2020. Mr. Hu, aged 70, graduated from Nanjing Normal University with a bachelor's degree in economic management. He also obtained a degree of master of public administration from University of Canberra in Australia. He served as the vice president of China Real Estate Association, the deputy director and the director of Nanjing Real Estate Administration, the deputy secretary of Nanjing Real Estate Administration Committee and the deputy director and member of working committee of Nanjing Xianlin University Town Management Committee. He has gained more than 30 years of extensive experience in real estate market management in the PRC. The Board also announced that Mr. Chan Ka Yin has resigned as an independent non-executive Director and chairman and member of audit committee, remuneration committee and nomination committee of the Board with effect from 24 April 2020 due to his personal and other business commitments. Following the resignation of Mr. Chan as the chairman of audit committee, remuneration committee and nomination committee of the Board, Mr. Lam Yick Man has been appointed as the chairman of the audit committee with effect from 24 April 2020. Mr. Hu Zhigang has been appointed as the chairman of the remuneration committee and nomination committee with effect from 24 April 2020.