The board of directors of China New City Commercial Development Limited announced that Mr. Yu Cheeric has resigned from his positions as the company secretary and the financial controller of the Company and has ceased to act as an authorised representative of the Company (LR Authorised Representative) under Rule 3.05 of then Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the authorised representative of the Company for accepting service of process or notice in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (CO Authorised Representative) with effect from 15 September 2023 to pursue other career aspirations. The Board further announced that Mr. Lin Caihe (Mr. Lin), aged 33, has been appointed as the financial controller, the company secretary, an LR Authorised Representative and the CO Authorised Representative of the Company in replacement of Mr. Yu with effect from 15 September 2023. Mr. Lin has over 10 years of experience in auditing, financial management and corporate finance.

Prior to joining the Company, Mr. Lin had worked for an investment bank where he was responsible for providing corporate finance and capital market services, and a listed company in Hong Kong where he was responsible for capital market and financial management. Mr. Lin is a member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants. Mr. Lin is currently studying for a master 's degree in business administration jointly offered by Tsinghua University and the Chinese University of Hong Kong.