The board of directors of Richly Field China Development Limited announced that Mr. Xin Songtao and Mr. Li Yi Feng have been appointed as executive Directors of the company, with effect from July 8, 2014. Mr. Xin has extensive experience in construction planning, design, business soliciting, management and real estate development. Mr. Xin is currently a director of Nanjing Qihao Investment Management Consulting Co.

Ltd. and Yangzhou Baolin Furniture and Decoration Port Co. Ltd. Mr. Li has extensive experience in construction planning, design, real estate and commercial properties. Since 2011, Mr. Li has served as the chairman of Changsha Yutianoutlets Business Administration Co.

Ltd. and a director of Richly Field (Beijing) owned subsidiaries of the company.