China Resources Land Limited announced that with effect from 26 July 2022, due to work arrangement by the Company, Mr. Li Xin resigned as the President of the Company. Mr. Li Xin continues to serve as an executive director of the Company, the Chairman of the Board and his existing memberships in the board committees of the Company. The Board further announces that with effect from 26 July 2022, Mr. Wu Bingqi an executive director of the Company, has been appointed as the President of the Company.

The biographical details of Mr. Wu are set out below: Mr. Wu, aged 50, joined the Company in 2007 and was appointed as the Senior Vice President of theCompany in October 2013, an executive director of the Company in February 2019, and the Chief Human Resource Officer of the Company and the Chairman (non-executive) of North China Region of the Company in January 2021. He is also a member of the Executive Committee of the Company. Mr. Wu is also a director of a number of subsidiaries of the Company.

Mr. Wu has a Bachelor's degree of Industrial and Civil Architecture Engineering from Tongji University in China, and an MBA degree from the University of South Australia in Australia. Mr. Wu has extensive experience in property and corporate management. Mr. Wu joined China Resources (Holding) Company Limited in 1993, and had worked for China Resources Property Management Limited.

Mr. Wu has entered into a letter of appointment with the Company for a term of three years. However, he will be subject to rotational retirement and re-election requirements at annual general meeting of the Company pursuant to the articles of association of the Company. For the year ended 31 December 2021, Mr. Wu has received an emolument of RMB8,243,000 which was determined with reference to his duties and responsibilities with the Company and the recommendation made by the Remuneration Committee of the Company.

Besides, Mr. Wu will not receive director's fee from the Company. Save as disclosed above, Mr. Wu is and was not connected with any directors, senior management or substantial or controlling shareholders of the Company. As at the date of this announcement, Mr. Wu did not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.