Glorious Property Holdings Limited has stepped down from his position as the chief executive officer of the Company with effect from 15 December 2022. Upon such change, Mr. Ding Xiang Yang will still act as the chairman of the Board, an executive director, the chairman of nomination committee, the chairman of corporate governance committee, a member of remuneration committee and a member of finance committee of the Company; and Mr. Zheng Qun Guo has been appointed as the chief executive officer of the Company with effect from 15 December 2022. Mr. Zheng, aged 53, joined the Group in 2008 and has served a number of management positions, including the general manager of Shanghai Hongye Property Development Co.

Ltd., a wholly owned subsidiary of the Company, since March 2008 to the date of this announcement; vice president of Glorious Property Investment (Shanghai) Co. Ltd., a wholly owned subsidiary of the Company, from July 2010 to July 2012; assistant to the chief executive officer of the Company from August 2012 to April 2017; and executive vice-president of the Company from May 2017 to the date of this announcement. Mr. Zheng graduated from the Department of Electrical Automation of Shanghai College of Metallurgy in 1991.

He also finished the Advanced Training Class in the MBA Real Estate core course at Shanghai Jiao Tong University in 2008. Mr. Zheng has comprehensive experience in the management of property development companies.