The board of directors of Shenzhen Investment Holdings Bay Area Development Company Limited announced that Mr. Weiguo ZONG ("Mr. ZONG") has resigned as a non-executive director of the Company with effect from 30 June 2023 due to other work allocation. The Board announced that Mr. Xuan WANG ("Mr. WANG") has been appointed as a non-executive director of the Company with effect from 30 June 2023. Mr. WANG, aged 49, obtained a Master's Degree in National Economics from Zhongnan University of Economics and Law in 2000.

From 2002 to 2006, he successively worked for Wuhan Vanke Real Estate Co. Ltd. and Shenzhen Vanke Development Co. Ltd. During 2007 to 2022, he served successively as the business manager of project investment center, assistant general manager and partner of business development center of China Vanke Co.

Ltd. (Shenzhen Stock Exchange stock code: 000002 and the Hong Kong Stock Exchange stock code: 2202). Since 2023, he has been transferred to the southern region headquarters of China Vanke Co. Ltd. and is currently the regional partner and investment and strategy research general manager of the southern region headquarters of China Vanke Co.

Ltd.