The Board of Directors of Debao Property Development Ltd. announce the appointment of Mr. Lai Hock Meng ("Mr Lai") as Independent Director of the Company with effect from 20 July 2021. The Board also announce the following: the cessation of Professor Ling Chung Yee ("Prof Ling") as the Chairman of the audit committee and the appointment of Prof Ling as Chairman of the Nominating Committee with effect from 20 July 2021. the appointment of Mr. Lai as the Independent Director, the Chairman of the audit committee and a member of the remuneration committee and Nominating Committee with effect from 20 July 2021.