The board of directors of Guangzhou R&F Properties Co., Ltd. announced that Mr. Zhou Yaonan will resign as an executive director of the Company due to his retirement with effect from the conclusion of the extraordinary general meeting of the Company to be held on 9 October 2020. Following the retirement of Mr. Zhou, the Board proposes to appoint Mr. Xiang Lijun as an executive director, subject to approval by the Shareholders at the EGM, with effect from 9 October 2020. Mr. Xiang Lijun is a vice president of the Company and chairman of Northwestern China region of the Company. He has been appointed as a vice president of the Company since July 2016 and was appointed as chairman of Northwestern China region in October 2018.