Debao Property Development Ltd. announced retirement of He Guoquan as Independent Director. Mr. He Guoquan, who retired by rotation pursuant to Article 93 of the Company's Constitution, did not stand for re-election, retired as an Independent Director at the conclusion of the Company's Annual General Meeting held on 30 November 2018. Following his retirement, Mr. He also ceased to be the Chairman of the Nominating Committee and a member of the Audit Committee and the Remuneration Committee.