The Board of The Grande Holdings Limited announced executive changes. Mr. Tan Bingzhao ("Mr. Tan"), aged 53, has been appointed as an executive Director, the chairman of the Board and the chief executive officer of the company with effect from 2 December 2017. He is currently the honourary chairman and was the president of Guangzhou Nimble Investment Limited ("Guangzhou Nimble") from 2004 to 2014.

Mr. Deng Xiangping ("Mr. Deng"), aged 53, has been appointed as an executive Director with effect from 2 December 2017. He is the assistant to the president of Guangzhou Nimble. He possesses extensive experiences in real estate development and construction industries.

Mr. Hon Yung Kwong, aged 47, has been appointed as an executive Director and the chief financial officer of the company with effect from 2 December 2017. He has over 10 years of experience in corporate finance and financial management acquired from foreign investment bank, manufacturing, retailing and healthcare industries. Dr. Lin Jinying ("Dr. Lin"), aged 54, has been appointed as an independent non-executive Director with effect from 2 December 2017.

She is currently an associate professor of College of Chemistry and Chemical Engineering of Guangzhou University. Dr. Lu Zhenghua ("Dr. Lu"), aged 55, has been appointed as an independent non-executive Director with effect from 2 December 2017. She is currently an associate professor of School of Business Administration of South China University of Technology ("SCUT"), engaging in educational work in accounting and finance.

Dr. Lu is currently an independent non-executive director of Guangdong Yueyun Transportation Company Limited. She is also an independent director of Guangzhou Hi-target Navigation Tech Co. Ltd., Guangdong Guangxin Information Industry Holding Co.

Ltd. and Guangdong Lilac Industrial Co. Ltd. Dr. Ye Hengqing ("Dr. Ye"), aged 46, has been appointed as an independent non-executive Director with effect from 2 December 2017. He is currently an associate professor of Department of Logistics and Maritime Studies in the Faculty of Business of The Hong Kong Polytechnic University.

The Board announced that with effect from 2 December 2017: Mr. Hon Tak Kwong, an executive Director, has been re-designated from an executive Director to a non-executive Director; Mr. Michael Andrew Barclay Binney, an executive Director, has been re-designated from an executive Director to a non-executive Director; and Mr. Manjit Singh Gill, an executive Director, has been re-designated from an executive Director to a non-executive Director. Mr. Hon Tak Kwong was appointed as an executive Director with effect from 30 May 2016. He was also appointed as a member of the Remuneration Committee and Nomination Committee on 11 November 2016.

He served as the chief executive officer of the company until 2 December 2017 and is a director of certain subsidiaries of the company. Mr. Hon Tak Kwong is also a director of Emerson Radio Corp. Mr. Michael Andrew Barclay Binney ("Mr. Binney") was appointed as an executive Director on 11 November 2016.

He has served as a director of certain subsidiaries of the company since 30 August 2016 and was the group chief financial officer of the company from 11 November 2016 to 2 December 2017. Mr. Manjit Singh Gill ("Mr. Gill") was appointed as an executive Director with effect from 30 May 2016. Dr. Lin has been appointed as the chairman of the Remuneration Committee; and Dr. Lu and Dr. Ye have been appointed as members of the Remuneration Committee.

Mr. Lau Ho Kit, Ivan has resigned as chairman and member of the Remuneration Committee; and Mr. Hon Tak Kwong and Mr. Chen Xiaoping have resigned as members of the Remuneration Committee; Mr. Tan has been appointed as the chairman of the nomination committee of the company (the "Nomination Committee"); and Dr. Lin and Dr. Ye have been appointed as members of the Nomination Committee. Mr. Chen Xiaoping has resigned as chairman and member of the Nomination Committee; and Mr. Hon Tak Kwong and Mr. Lau Ho Kit, Ivan have resigned as members of the Nomination Committee; and Dr. Lu has been appointed as the chairman of the audit committee of the company (the "Audit Committee"); and Dr. Lin and Dr. Ye have been appointed as members of the Audit Committee. Mr. Lau Ho Kit, Ivan has resigned as chairman and member of the Audit Committee; and Mr. Chen Xiaoping has resigned as member of the Audit Committee.

Mr. Hon Tak Kwong has resigned as the chief executive officer of the company with effect from 2 December 2017. Mr. Tan has been appointed in his stead. Mr. Michael Andrew Barclay Binney has resigned as the chief financial officer of the company with effect from 2 December 2017.

Mr. Hon Yung Kwong has been appointed in his stead. Each of Mr. Michael Andrew Barclay Binney and Mr. Hon Tak Kwong has ceased to be an authorised representative of the company ("Authorised Representative") under the Listing Rules and an authorized representative to accept service of process and notices on behalf of the company in Hong Kong under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Process Agent") with effect from 2 December 2017. Each of Mr. Hon Yung Kwong and Mr. Hui Yick Lok, Francis (secretary of the Company) has been appointed as an Authorised Representative and a Process Agent with effect from 2 December 2017.