The board of directors of Longfor Group Holdings Limited announced that Mr. Shao Mingxiao ("Mr. Xiao") has tendered his resignation as a non-executive director of the Company and vice chairperson of the Board due to his desire to retire with effect from 10 January 2023. He will act as a consultant of the Company to provide strategic and directional advice for the Company. The Board announced that Mr. Zhang Xuzhong ("Mr. Zhang") has been appointed as an executive director and a member of the investment committee of the Company with effect from 10 January 2023.

Mr. Zhang Xuzhong, aged 48, is the vice president of the Group and the general manager of the property development segment. Mr. Zhang had served as the general manager of Zhejiang Longfor since joining the Group in 2014 and was re-designated as the general manager of the Group's property development segment in 2022. Mr. Zhang graduated from Southeast University in 1997 and obtained a Bachelor degree in civil engineering majoring in industrial and civil engineering.

He graduated from the University of South Australia in 2004 and obtained a master degree in business administration. Mr. Zhang is a director of certain subsidiaries of the Company.