Glorious Property Holdings Limited announced that Mr. Wo Rui Fang ("Mr. Wu") retired as an independent non-executive director with effect from the conclusion of the AGM as he would like to devote more time to his family. Upon retirement, Mr. Wo also ceased to be the member of each of the audit committee and the nomination committee of the Company, and chairman of the remuneration committee of the Company with effect from the conclusion of the AGM. Mr. Wo retired as an independent non-executive director of the Company by rotation at the AGM pursuant to the articles of association of the Company and did not offered himself for re-election. Mr. Wo has confirmed that he has no disagreement with the Board and is not aware of any matters that need to be brought to the attention of the shareholders of the Company in relation to his retirement as a director of the Company. The Board announced that Dr. Hu Jinxing ("Dr. Hu") has been appointed as an independent non-executive director of the Company to fill up the vacancy created by the retirement of Mr. Wo as director with effect from the conclusion of the AGM. Upon appointment, Dr. Hu also acts as the member of each of the audit committee and the nomination committee of the Company, and chairman of the remuneration committee of the Company. Dr. Hu Jinxing, with a Ph.D. in Economics, is currently the head, associate professor and a tutor for graduate students of the Department of Real Estate, School of Business Administration, East China Normal University.