The Board of directors of Overseas Chinese Town (Asia) Holdings Limited announced that with effect from 30 March 2017, Mr. Zhou Ping (Mr. Zhou) has resigned as a non-executive Director, and a member of each of the audit committee (the Audit Committee) and the remuneration committee (the Remuneration Committee) of the company due to work reallocation. Mr. Zhou has confirmed that he has no disagreement with the Board and there are no other matters that need to be brought to the attention of the shareholders of the company in relation to his resignation of the above positions. The Board further announced that with effect from 30 March 2017, Mr. Zhang Jing (Mr. Zhang) has been appointed as a non-executive Director, and a member of each of the Audit Committee and Remuneration Committee. Mr. Zhang, aged 34, is an Economist and currently serves as the deputy director of the strategic development department of Shenzhen Overseas Chinese Town Company Limited. Mr. Zhang will enter into a director's service agreement with the Company for a term commencing from 30 March 2017 to the annual general meeting of the Company to be held in 2017.