The board of directors of China New City Commercial Development Limited announced that Mr. Zhang Chunsheng (" Mr. Zhang ") has been appointed as a non-executive Director of the Company with effect from 28 September 2022. Mr. Zhang, aged 55, has been appointed as the non-executive Director of the Company with effect from 28 September 2022. He is primarily responsible for industry research and development.

Mr. Zhang studied politics at the Hanshan Normal University from September 1986 to June 1989 and graduated with a college degree. Subsequently, from September 1990 to June 1992, he studied at the theory department of the Guangdong Institute of Public Administration and graduated with a bachelor ' s degree. Mr. Zhang worked in the People ' s Government of Puning City, Guangdong Province from July 1989 to June 1992.

From June 1992 to April 2005, he worked at the Guangdong Youth Federation serving successively in various positions including section chief, deputy director, director and vice-chairman. From April 2005 to June 2009, he served as the deputy head of the Youth Affairs Department* of the Liaison Office of the Central People ' s Government in the Hong Kong Special Administrative Region. Subsequently, he served as the deputy director of the Ethnic and Religious Affairs Commission of Guangdong Province of the People ' s Government of Guangdong Province from July 2009 to November 2010.

Having relocated to Hong Kong in November 2010, he served as an executive director and chief executive officer of Tianjin TEDA Biomedical Engineering Company Limited, a company listed on GEM of The Stock Exchange of Hong Kong Limited from 8 August 2011 to 3 July 2013. The Board hereby announces that Ms. Tang Yiyan (" Ms. Tang ") has tendered her resignation as an executive Director and a vice president of the Company and has ceased to be a member of the remuneration committee of the Company with effect from 28 September 2022, for the reasons that Ms. Tang would like to devote more time to her family and the development of her personal career. The Board further announces that with effect from 28 September 2022, Ms. Tang has ceased to be and Mr. Shi Nanlu has been appointed as a member of the remuneration committee of the Company.