The board of directors of Poly Property Group Co., Limited announced the following changes with effect from 1 February 2019: Mr. Zhang Bingnan ("Mr. Zhang") has been appointed as an executive Director of the Company and the chairman of the Board; Mr. Wang Jian ("Mr. Wang") has been appointed as an executive Director, the managing director of the Company (the "Managing Director") and a member of the risk management committee of the Company; Mr. Xue Ming ("Mr. Xue") has resigned as the chairman of the Board due to internal work arrangements. He remains as an executive Director of the Company; Mr. Han Qingtao ("Mr. Han") has resigned as the Managing Director, a member of the remuneration committee and a member of the risk management committee of the Company due to internal work arrangements, and has been appointed as the vice chairman of the Board. Mr. Han remains as an executive Director of the Company; and Mr. Ip Chun Chung, Robert ("Mr. Ip") has been re-designated from a non-executive Director to an independent non-executive Director and appointed as a member of the remuneration committee of the Company.