The board of directors of LVGEM (China) Real Estate Investment Company Limited announced the resignation of Mr. Chen Tieshen as an executive director of the company with effect from 21 February 2017 due to Mr. Chen's desire to devote more time on his personal endeavours. Consequent to Mr. Chen's resignation, he has also ceased to be a member of the executive committee of the company with effect from 21 February 2017. Mr. Chen 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. The board announced the appointment of Mr. Huang Hao Yuan as an executive director and a member of the executive committee of the company with effect from 21 February 2017.