The board of directors of the Kaisa Prosperity Holdings Limited announced that Mr. Wu Jianxin ("Mr. Wu") has tendered his resignation as an executive director of the Company with effect from 17 June 2022 in order to devote more time to his personal endeavours. The Board announced that Mr. Nie Qiang ("Mr. Nie") has been appointed as an executive Director of the Company with effect from 17 June 2022. His biographical details is set out below.

NIE Qiang, aged 40, is a senior vice president of the Kaisa Group Holdings Limited ("Kaisa Group"). Mr. Nie joined Kaisa Group in April 2010 and successively served as the general manager of the Shenzhen real estate company, the Shanghai regional vice president, the executive vice president and the president, and a vice president of Kaisa Group. Before joining the Kaisa Group, Mr. Nie worked in the China Water Resources and Hydropower Third Engineering Bureau Installation Branch Co.

Ltd. and Fantasia China Group Co. Ltd. Mr. Nie graduated from North China University of Water Conservancy and Electronic Power with a bachelor's degree in mechanical design and manufacturing and the relevant automation in June 2004. Mr. Nie has entered into a service contract with the Company for a term of three years from 17 June 2022 to 16 June 2025 (both dates inclusive).

Mr. Nie will receive salary and director's fee from the Company in the amount of HK$100,000 before tax per annum. Mr. Nie will hold office until the next following annual general meeting of the Company and shall then be eligible for re-election at the meeting, and shall then be eligible for re-election in accordance with the articles of the Company.