Nam Tai Property Inc. announced the immediate appointment of Zhou Chongqing to the Company's Board of Directors (the "Board"). In addition, the Company announced that Jeffrey Tuder and Paula J. Poskon have resigned from their director positions, resulting in a reduction of the Board to eight members. Zhou Chongqing, age 63, is a Chinese national with a diverse background that spans accounting, corporate governance and real estate.

He is currently an independent director of Wenfeng World Chain Development Co. Ltd. and has also served as a director of Nantong Jiangshan Agrochemical & Chemicals Co. Ltd. Some of his previous experience includes serving as a Deputy Section Chief, Section Chief and Reform Office Director of Nantong Commerce Bureau (Trade Bureau), as Assistant Director and Assistant Investigator of Nantong Trade Bureau, and as Chairman of the Board of Supervisors of Nantong State-owned Real Estate Group and the Nantong Grain and Oil Group.