The board of directors of Richly Field China Development Limited announces that Mr. Ma Jun will be re- designated from executive Director to non-executive Director with effect from 15 January 2016 in order to focus on his other business engagements in JeSheng Group which require more time for his dedication. The company and Mr. Ma have mutually agreed to avoid the director's service contract entered into between the company and Mr. Ma on 13 January 2014 and a new director's service contract re-entered into between the company and Mr. Ma on 15 January 2016. Mr. Ma, aged 55, was appointed as an executive Director and chief executive of the Company on 17 December 2013 and 13 January 2014 respectively, and was re-designated as non-executive Director with effect from 15 January 2016.

The Board also announces that Mr. Ma ceased to act as the chairman of the Board and chief executive officer of the company as well as authorized representative of the Company for the purpose of the Listing Rules with effect from 15 January 2016 and that Mr. Xin Songtao, the executive Director, has been appointed as the chairman of the Board and chief executive officer of the Company as well as authorized representative of the Company for the purpose of the Listing Rules with effect from 15 January 2016. Mr. Xin, aged 46, was appointed as an executive Director of the Company on 8 July 2014. He was appointed as the chairman of the Board, chief executive officer, the chairman of the nomination committee and a member of the remuneration committee of the Board with effect from 15 January 2016.

He has extensive experience in construction planning, design, business soliciting, management and real estate development. Mr. Xin obtained his Bachelor's degree in Metal Material Engineering from Southeast University.