The board of directors of China Aoyuan Group Limited announced that Mr. Tsui King Fai ("Mr. Tsui") has tendered his resignation as an independent non-executive director of the Company, with effect from 20 January 2023, due to having reached the retirement age. His positions as the chairman of the remuneration committee (the "Remuneration Committee"), and a member of each of the audit committee (the "Audit Committee") and the nomination committee of the Board will also terminate accordingly. The Board further announces that Mr. Lee Thomas Kang Bor has been appointed as the chairman of Remuneration Committee with effect from 20 January 2023.