The board of directors of GR Properties Limited announced that Ms. Liu Shuhua ("Ms. Liu") has tendered her resignation as an executive Director, the chief executive officer of the Company (the "CEO") and an authorized representative of the Company (the "Authorized Representative") under rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") (the "Stock Exchange") with effect from 1 April 2021 as she needs to devote more time to develop other business. The Board announced that Mr. Wei Chunxian ("Mr. Wei"), an executive Director and the chairman of the Company, has been appointed as the CEO and an Authorized Representative with effect from 1 April 2021. Mr. Wei, aged 57, was appointed as an executive Director and the chairman of the Company on 17 February 2014. He also acts as the chairman of the nomination committee of the Company. Mr. Wei is also a director of certain subsidiaries of the Company. In addition, he is also the president of GR properties USA Inc. and East Pacific Properties LLC (each a US subsidiary of the Company).