China HGS Real Estate Inc. announced that on February 23, 2022, Ms. Shenghui Luo resigned from her position as an Independent Director of the Board. Effective February 23, 2022, the Board appointed Mr. Jian Zhang as an Independent Director of the Board to fill the vacancy created by the resignation of Ms. Shenghui Luo. Mr. Jian Zhang has served as the head of Greater China of Shanghai Branch of Standard International Bank of United States since December 2020.

From November 2017 to December 2020, Mr. Zhang served as a vice president of China Industrial GuoXin Asset Management Co. Ltd. From December 2015 to November 2017, Mr. Zhang served as a vice president of sub-branch of Shanghai Branch of China Construction Bank.