The Board of Greentown China Holdings Limited announced that, with effect from the date of this announcement, Mr. KE Huanzhang and Mr. SZE Tsai Ping, Michael have resigned as independent non-executive Directors, so that they can devote more time to their other commitments. Following the Resignation, Mr. KE Huanzhang and Mr. SZE Tsai Ping, Michael have ceased to act as chairman and/or member of the Board committees, and have no longer held any office or position in the Group. In order to fill the vacancy of the chairman position of the Audit Committee following the Resignation, Mr. HUI Wan Fai, an independent non-executive Director, has been appointed as the chairman of the Audit Committee with effect from the date of this announcement. The Board further announces that, with effect from the date of this announcement: Mr. QIU Dong has been appointed as an independent non-executive Director and a member of the Audit Committee, the Remuneration Committee and the Nomination Committee; and Mr. ZHU Yuchen has been appointed as an independent non-executive Director, the chairman of the Nomination Committee and a member of the Audit Committee and the Remuneration Committee. QIU currently serves as professor of Beijing Normal University. ZHU Yuchen has been a member of the tenth and eleventh sessions of the National People's Congress (NPC) and the twelfth session of the National Committee of the Chinese People's Political Consultative Conference.