The board of directors of China Overseas Property Holdings Limited announced that due to realignment of work duties, Mr. Hao Jian Min has resigned as Chairman and non-executive Director, Chairman and member of Nomination Committee, member of Remuneration Committee and authorized representative of the Company with effect from 15 November 2016. The Board announced that Mr. Xiao Xiao has been appointed as the Chairman and non- executive Director, the Chairman and member of the Nomination Committee, member of the Remuneration Committee and authorized representative of the Company with effect from 15 November 2016. Mr. Xiao is currently a Director of China Overseas Holdings Limited (the controlling shareholder of the Company) and certain of its subsidiaries, and also Director of certain subsidiaries of the group of COLI.