The board of directors of Joy City Property Limited announced that Mr. CAO Ronggen was appointed as an executive director of the Company, a member of executive committee of the Board and a member of remuneration committee of the Board with effect from 7 December 2016. Mr. Cao joined Shenzhen Baoheng (Group) Co. Ltd. was acquired by COFCO Corporation and renamed as COFCO Property (Group) Co. Ltd. in July 1988. He had been the deputy general manager of COFCO Property since July 2002 to November 2016.