The board of directors of the Logan Property Holdings Company Limited announces that Mr. Ji Jiande has tendered his resignation as an executive director of the company and from the position as chief executive officer of the company with effect from 10 September 2019 in order to devote more time to pursue his personal development and his other commitments. Mr. Ji has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and the Stock Exchange. The Board would like to take this opportunity to express its gratitude to Mr. Ji for his devotion and contribution to the Company during the tenure of his office.

The Board announces that, following the resignation of Mr. Ji as the chief executive officer, Mr. Lai Zhuobin, who is an executive director of the company has been appointed as the chief executive officer with effect from 12 September 2019 and Mr. Lai will continue to hold the position of chief financial officer until the appointment of new chief financial officer. The Board further announces that, effective from 12 September 2019, Mr. Wu Jian has been appointed as an executive director of the Company. Mr. Wu has more than 15 years of experience in the property development industry.

Mr. Wu joined the Company as the deputy president in August 2019. Mr. Wu was employed by Fuzhou Architectural Design Institute from April 1994 to March 2004. Mr. Wu joined Ronshine China Holdings Limited in March 2004 and had assumed various positions, including being the executive director from 1 December 2014 to 16 November 2018 and chief executive officer from January 2017 to November 2018.