The Board of Directors of Guangzhou R&F Properties Co., Ltd. announced that Mr. Lu Jing will resign as an executive director of the Company with effect from the conclusion of the annual general meeting of the Company to be held on 29 May 2020 due to his retirement soon. Following the retirement of Mr. Lu, the Board proposes to appoint Mr. Zhang Hui as an executive director, subject to approval by the Shareholders at the AGM, with effect from 29 May 2020. Mr. Zhang Hui is a vice president of the Company.