The board of directors of China Properties Investment Holdings Limited announced that Mr. Xu Dong has resigned as the executive director, the chairman of the Board and the chief executive officer of the Company with effect from 12 December 2017 as he will spend more time on his own business. The Board announced that Mr. Han Wei currently an executive Director, has been appointed as the chairman of the Board and the chief executive officer of the company in place of Mr. Xu with effect from 12 December 2017. Mr. Han joined the Group in December 2008 as the director and authorized representative of Shanghai Xiang Chen Hang Place The Industry Co.

Limited a wholly-owned subsidiary of the company. Prior to joining the Group, Mr. Han served as the general manager of an investment company in Shanghai for about five years and serves as a manager of Bank of Shanghai.