Debao Property Development Ltd. announced that the Nominating Committee has recommended the appointment of Mr. Zhong Yuzhao as the Chief Executive Officer of the company, and the Board of Directors has approved his appointment based on his qualifications and working experience. Mr. Zhong Yuzhao will be responsible for the overall management of the Group's operations, marketing, public relations and property development activities and will spearhead the Group's expansion and growth. He is an Executive Director of the company. The appointment date is April 19, 2018.