The board of directors of Greentown China Holdings Limited announced that Mr. Shou Bainian, an executive Director, that he has entered into an agreement dated January 26, 2018 with third parties to sell his interests in 174,549,783 ordinary shares in the company at HKD 12.08 per share. As at the date of this announcement, such shares represent approximately 8.06% of the entire issued share capital of the company. According to Mr. Shou, completion of the sale and purchase of 91,772,639 shares has taken place on January 26, 2018, while the completion of the sale and purchase of the remaining 82,777,144 shares is expected to take place on or before April 6, 2018. Mr. Shou also tendered his resignation, as part of his retirement plan, as an executive Director and a member of each of the remuneration committee and nomination committee of the Board with effect from the completion of the sale and purchase of the remaining 82,777,144 shares.