The board of directors E-Star Commercial Management Company Limited announced that (i) Mr. Guo Limin ("Mr. Guo") has tendered his resignation as a non-executive Director; (ii) Mr. Tao Muming ("Mr. Tao") has tendered his resignation as an executive Director; and (iii) Ms. Wen Yi (Ms. Wen) has tendered her resignation as an executive Director, all with effect from 14 April 2023 due to their desires to retire and devote more time to their personal endeavours. Following his resignation, Mr. Guo will also cease to be a member of the audit committee (the Audit Committee) and the remuneration committee (the Remuneration Committee) of the Company. The Board announced that (i) Mr. Liu Jun (Mr. Liu) has been appointed as a non-executive Director and a member of the Audit Committee and the Remuneration Committee; and (ii) Ms. Li Li (Ms. Li) has been appointed as an executive Director, both with effect from 14 April 2023.

Mr. Liu Jun, aged 49, joined Galaxy Holding Group Co. Ltd.("Galaxy Holding", a subsidiary company wholly-owned by the controlling shareholder of the Company) in February 2021 and is currently serving as an assistant president and the chief financial officer. Prior to joining Galaxy Holding, from July 1994 to June 1997, Mr. Liu worked as the head of the accounting department of China State Construction Engineering Corporation, a company listed on the Shanghai Stock Exchange).

From June 1997 to September 2016, Mr. Liu served at China Overseas Holdings Limited and its associated companies with his last position as an executive director and assistant president of China Overseas Grand Oceans Group Limited, a company listed on the Stock Exchange, from December 2015 to September 2016. From October 2016 to July 2019, he worked as a vice president of Qian Hai Life Insurance CO., LTD. From July 2019 to March 2020, he served as a vice president of RiseSun Real Estate Development Co.,Ltd, a company listed on the Shenzhen Stock Exchange. From March 2020 to February 2021, Mr. Liu served as a vice president of Guangzhou Seedland Real Estate Development Co.

Ltd. Mr. Liu obtained a bachelor's degree in accounting from the Jiangxi University of Finance and Economics in 1994 and a master's degree in business administration from the Victoria University of Switzerland in 2011. He obtained the qualification of senior accountant recognized by China State Construction in November 2008. Ms. Li Li, aged 46, joined the Group in May 2022 and is currently an assistant president of the Company and Shenzhen Galaxy Commercial Property Group Co.

Ltd., an indirect wholly-owned subsidiary of the Company, where she is primarily in charge of the merchants centre and operation management centre. Prior to joining the Group, from July 1999 to July 2001, Ms. Li worked as the head of the human resources department of Shenzhen Friendship Trade Building Co. Ltd. From July 2001 to June 2003, Ms. Li served as a head of customer services of American President Lines, LLC.

From June 2003 to October 2021, Ms. Li served at Maoye International Holdings Limited, a company listed on the Stock Exchange and its associated companies with her last position as an assistant president, where she was primarily responsible for operation and management of commercial projects. From July 2016 to July 2018, she served as a director of Maoye Commercial Co.,Ltd., a company listed on the Shanghai Stock Exchange. Ms. Li obtained a bachelor's degree in international economics and trade from the Nankai University in June 1999 and an executive master's degree at China Europe International Business School in November 2017.

She also obtained the Certificate of Secretary of the Board issued by the Shanghai Stock Exchange in September 2017.