The board of directors of China Merchants Land Limited announced that, with effect from 3 February 2023: Ms. Liu Ning has resigned as a non-executive Director and a member of the audit committee of the Company due to age reason; Mr. Yu Zhiliang has resigned as the general manager of the Company due to change in work arrangements and has been re-designated as a non-executive Director and appointed as a member of the Audit Committee; and Ms. Chen Yan has been appointed as an executive Director and will continue to serve as the chief financial officer of the Company. The biographical details of Mr. Yu and Ms. Chen are set out as follows: Mr. Yu Zhiliang, aged 44, has joined the Company as an executive director since 2 June 2012. He served as the general manager of the Company from 18 August 2016 to 3 February 2023 and the chief financial officer of the Company from 29 June 2012 to 17 August 2016.

Mr. Yu has served as a director of Champion Apex Limited since January 2013 and a director of Harvest Allied Investments Limited since April 2013. Mr. Yu is responsible for strategic development, and to facilitate and implement the operational plans of the Group. Mr. Yu has served as the chief financial officer of Xiamen company of China Merchants Property Development Co.

Ltd. and Fujian Zhong Lian Sheng Estate Development Ltd. since 2010. Mr. Yu is a director of certain major subsidiaries of the Company. He has been appointed as a non-executive director of the REIT Manager of China Merchants Commercial Real Estate Investment Trust, the units of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited since 11 July 2019.

Mr. Yu is also a director of China Merchants Property Operation & Service Co. Ltd. He currently serves as the Board Secretary of China Merchants Shekou Industrial Zone Holdings Co. Ltd. since 16 January 2023.

He obtained a bachelor's degree in accounting from Xiamen University and a master's degree in business administration (finance) from the Chinese University of Hong Kong. Mr. Yu is an accountant in the People's Republic of China. Mr. Wong King Yuen, aged 55, was appointed as an executive director of the Company on 18 March 2016.

Ms. Chen Yan, aged 44, has been the chief financial officer of the Company since January 2018 and was the deputy chief financial officer of the Company from May 2017 to January 2018. She joined CMSK, an intermediate controlling shareholder of the Company, in October 2009 as a senior manager of the finance department until July 2016. She was also appointed as the senior chief financial manager of the finance department of CMSK from July 2016 to May 2017.

She also has been the internal auditor of the REIT Manager of China Merchants Commercial Real Estate Investment Trust since December 2019. Ms. Chen graduated from the School of Management of Sun Yat-Sen University in 2002 with a master's degree in accounting and business studies. In 2002, she was qualified as a certified public accountant in the PRC.