The board of directors of China New City Commercial Development Limited announced that Mr. Cheng Shing Hay has resigned as the company secretary and chief financial officer of the company with effect from 16 January 2015. Mr. Cheng confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the company or the Stock Exchange. The Board further announced that Mr. Shi Kancheng, a non-executive director of the company, will be appointed as the authorized representative of the company under Rule 3.05 of the Listing Rules with effect from 16 January 2015.

The company is in the process of identifying suitable candidate to fill the vacancy of the company secretary and chief financial officer of the company.