The board of directors of Richly Field China Development Limited announced that it has received the letter of resignation from Mr. XIN Songtao, an executive Director and chairman of the Board on 26 April 2017. Mr. Xin resigned from the positions of executive Director, chairman of the Board, chief executive officer of the company, member of the remuneration committee of the Company, chairman of the nomination committee of the Company. The Board announced that Ms. WANG Yucan has been appointed as an executive Director with effect from 27 April 2017.

Ms. Wang was appointed as an executive Director, the co-chairman of the Board, chief executive officer of the company. MA Jun, an executive Director of the company, was appointed as the co-chairman of the Board with effect on 27 April 2017. As Mr. Xin has ceased to be and Ms. Wang has been appointed as chairman of the Nomination Committee with effect from 27 April 2017, the Board hereby announces that the Nomination Committee of the company comprises Chau Shing Yim David as member of the Nomination Committee; Hsu Wai Man Helen as member of the Nomination Committee; and Xu Jinhong as member of the Nomination Committee.

Xin has ceased to be and Ms. Wang has been appointed as member of the Remuneration Committee with effect from 27 April 2017, the Board hereby announced that with effect from 27 April 2017, the Remuneration Committee of Chau Shing Yim David as member of the Remuneration Committee; Wang as member of the Remuneration Committee; and Xu Jinhong as Member of the Remuneration Committee.­