China Jinmao Holdings Group Limited announced that Mr. LI Congrui ceased to be the chief executive officer of the Company, with effect from 28 April 2023. Mr. LI will continue to serve as an executive director, the chairman of the Strategy and Investment Committee and the chairman of the Environmental, Social and Governance (ESG) Committee of the Company. Mr. LI Congrui, who was born in March 1971, joined the Company in April 2009 as a vice president.

Mr. LI has been serving as an executive director of the Company since June 2011 and an executive director and the chief executive officer of the Company since January 2013. Mr. LI also holds positions in a number of subsidiaries of the Company. He has been serving as a non-executive director of Jinmao (China) Hotel Investments and Management Limited in October 2020, stock code before the delisting: 06139) and Jinmao (China) Investments Manager Limited since March 2014, and has been the chairman of the board of directors since April 2016.

Mr. LI also has been serving as the chairman of the board of directors of Sinochem Franshion Properties (Beijing) Co. Ltd. and an executive director of Shanghai Jinmao Investment Management Group Co. Ltd. Mr. LI joined Sinochem Group Co.

Ltd. in 1997, and had held various senior management positions in Shanghai Orient Terminal Co. Ltd. and Sinochem International Industrial Corp. From 2003 and prior to joining the Company, Mr. LI was a director and the general manager of Zhoushan State Oil Reserve Base Company Limited.

Mr. LI has over 25 years of experience in strategy management, corporate governance, organisational construction, appraisal and analysis on project investment, project management and large project construction. Mr. LI obtained a bachelor ' s degree in petroleum geology and exploration from the Petroleum Department of China University of Geosciences (Wuhan) in 1994. He earned a master's degree in petroleum development from the Research Institute of Petroleum Exploration & Development in 1997 and an executive master of business administration degree from China Europe International Business School (CEIBS) in 2007.

The Board also announces that Mr. TAO Tianhai has been appointed by the Board as chief executive officer of the Company with effect from 28 April 2023. In accordance with the Articles of Association of the Company, Mr. TAO and Ms. QIAO shall be subject to election by the shareholders of the Company at the first annual general meeting of the Company following their appointments. Mr. TAO Tianhai, who was born in October 1975, joined the Company in July 2000.

Mr. TAO has been a vice president of the Company since January 2017 and a senior vice president of the Company since October 2017. Mr. TAO held various management positions in China Jin Mao (Group) Co. Ltd. from July 2000 to October 2009, including the manager of the corporate planning department and the general manager of the strategic planning department.

He successively served as the general manager of the strategic operations department, general manager of the cost contracting department and assistant to the president of the Company from October 2009. Mr. TAO also serves as an executive director and chairman of a number of subsidiaries of the Company, including Jinmao Huadong Enterprises Management Co. Ltd., Franshion Properties (Hangzhou) Co.

Ltd., Franshion Properties (Ningbo) Co. Ltd. and Franshion Properties (Suzhou) Co. Ltd. Mr. TAO has more than 20 years of experience in hotel and real estate development and management, and accumulated extensive practical experience in areas of corporate management, strategic management, operations management, etc.

Mr. TAO obtained a bachelor ' s degree in library science from the School of International Business Administration of Northeast Normal University in July 1997 and a master's degree in political economy from the School of Economics of Fudan University in July 2000.