The board of directors of Guangdong Land Holdings Limited announced that, as Mr. YE Xuquan and Mr. LUO Fanyu have reached their retirement age, Mr. YE Xuquan has tendered his resignation as an Executive Director and the Chief Executive Officer of the company with effect as of 1 May 2016, and Mr. LUO Fanyu has tendered his resignation as a Non-Executive Director of the company with effect as of 17 March 2016. The Board also announced that Mr. WU Mingchang has been appointed as a Non-Executive Director of the company with effect from 17 March 2016. Mr. Wu had served as the Deputy Director, Director and Deputy Department Chief of Guangzhou Urban Planning Bureau, the Deputy District Chief of Haizhu District People's Government of Guangzhou Province, the Director General of the Legislative Affairs Office and the Secretary of the Party Leadership Group of the Guangzhou Municipal People's Government.

Mr. Wu is currently the General Counsel of (Guangdong Holdings Limited) and also an Executive Director and the General Counsel of GDH Limited.