The board of directors of Greentown China Holdings Limited announced that Mr. Cao Zhounan has tendered his resignation as an executive director, chief executive officer of the company and member of nomination committee of the Board with effect from 1 August 2018. Mr. Cao tendered his resignation with a view to providing new contributions to the Group by continuing to manage other important new businesses and to focus on exploring business opportunities for the Group. The Board also announced that Mr. Sun Guoqiang has resigned as an executive director and member of the remuneration committee of the Board with effect from 1 August 2018 due to rearrangement of job assignment in CCCG.

The Board also announced that with effect from 1 August 2018, Mr. Zhang Yadong has been appointed as an executive director, chief executive officer, member of the Remuneration Committee and the Nomination Committee. Mr. Zhang Yadong joined the company in May 2018 and serves as the party secretary and executive general manager of the company. Mr. Zhang previously served as the assistant to general manager, deputy general manager and general manager of Dalian Great Automobile Enterprise Group, assistant director and deputy director of Dalian High-tech Zone Management Committee, deputy party chief and mayor of Pulandian Municipal Committee of Liaoning Province, and deputy party chief of party working committee and deputy director of management committee of Dalian Economic and Technological Development Zone, party chief and head of Dalian Urban Construction Bureau, secretary of the leading party members' group and director of Dalian Construction Committee, deputy mayor of Dalian Municipal Government, member of the standing committee and the head of the United Front Work Department of the Dalian Municipal Committee, director and general manager of China Urban and Rural Construction Development Limited.