Hopson Development Holdings Limited announced the changes, all of which come into effect on 27 March 2024. Mr. Xie Baoxin has resigned as the chief financial officer due to his desire to devote more time to his personal endeavours. Mr. Luo Taibin has been appointed as the chief financial officer.

Mr. Luo, aged 31, joined the Group in September 2016 and worked in the group investment and finance management centre. Mr. Luo was subsequently appointed in May 2018 as the vice general manager of the Northern China region of the Group. Mr. Luo was further promoted in July 2023 as the general manager of the investment management centre.

Mr. Luo is mainly responsible for the Group's overall investment and financial management. Mr. Luo is also a director, legal representative and holds management roles in various subsidiaries of the Group. Mr. Luo graduated from Sun Yat-sen University Nanfang College (now known as Guangzhou Nanfang College) with a bachelor's degree in financial management and subsequently obtained a master's degree in management from University of Surrey.

Mr. Luo has entered into a service contract with the Company in relation to his appointment as an executive Director and the chief financial officer of the Company for a period of three (3) years commencing from 27 March 2024, which can be terminated by either party giving to the other party not less than three months' prior written notice. Mr. Luo is entitled to an annual remuneration of RMB 2,000,000 (including housing and business subsidies), which has been approved by the Board and the remuneration committee of the Company (Remuneration Committee'), and will be reviewed by the Board and the Remuneration Committee of the Company on an annual basis. The emoluments of Mr. Luo were determined by the Board by reference to his experience, duties and responsibilities, the prevailing market conditions and the recommendation from the Remuneration Committee of the Company.

His appointment as an executive Director will be subject to retirement and re-election at the next following annual general meeting of the Company in accordance with the bye-laws of the Company.