The board of directors of Sinoref Holdings Limited announced that Mr. Xu Yejun resigned as the chief executive officer of the company due to the need to focus on his family affairs with effect from 2 January 2015. The Board further announced that following the resignation, Mr. Lu Yongchao has been appointed as the Chief Executive Officer with effect from 2 January 2015. Mr. Lu, aged 35, obtained a diploma in Business Administration for Real Estate Entrepreneurs in China at Sun Yat-sen University and a diploma in English at Guangdong University of Foreign Studies.

Mr. Lu was a team member of Ample Luck International Capital Group Limited. The Board announced that Mr. Sin Kwok Wai Ronald, Executive Director, has been appointed as the company secretary of the Company with effect from 2 January 2015 and Ms. Yip Sum Yu, Non-executive Director, has been appointed as an authorised representative of the company with effect from 2 January 2015.