China New Town Development Company Limited announced that Mr. Ren Xiaowei has decided not to stand for re-election after his retirement by rotation at the forthcoming annual general meeting of the Company which is scheduled to be held on 25 June 2021 as he desires to devote more time to his other business commitments. Hence, Mr. Ren will cease to be an executive Director with effect from the conclusion of the 2021 AGM.