The board of the Guangzhou R&F Properties Co., Ltd. announced that Mr. Dai Feng has tendered his resignations as independent director, the chairman of the remuneration committee, member of the audit committee and nomination committee of the board due to personal reasons, to be effective from 28 February 2014. Mr. Dai has confirmed that he has no disagreement with the Board of the company and that he is not aware of any other matters relating to his resignation that need to be brought to the attention of the shareholders of the company.