The board of directors of Ronshine China Holdings Limited announced that Ms. Yu Lijuan has been appointed as an executive Director with effect from 22 March 2019. Ms. Yu, aged 37, possesses extensive experience in real estate development and management. She has been engaged in the real estate industry for 15 years. Ms. Yu first joined the Group in September 2007, she has since served in various positions within the Group, including serving as the marketing director of the Group, the deputy general manager of the East China region of the company and the general manager of the Hangzhou region of the company. Ms. Yu is currently the vice president of the Group, and concurrently serves as the president of division 1 and division 3 of the Group. The Board also announced that, Dr. Lo Wing Yan William will retire from his position as an independent non-executive Director and will resign as a member of the audit committee of the company (the "Audit Committee") and a member of the nomination committee of the company, all with effect from the conclusion of the forthcoming annual general meeting of the company. Dr. Lo will not seek for re-election at the Forthcoming AGM as he would like to devote more time to his other personal commitments. Upon Dr. Lo's retirement, Dr. Lo will continue to serve as an advisor to the Board and will continue to provide his valuable advice to the company in that capacity. The board further announced that on 22 March 2019 Mr. Ruan Weifeng has been appointed as an independent non-executive Director. In addition, upon conclusion of the Forthcoming AGM and upon the retirement of Dr. Lo, Mr. Ruan will also assume the role of a member of the Audit Committee and a member of the Nomination Committee. Mr. Ruan, aged 42, he was admitted as a lawyer in 1999. From June 2000 to September 2001, he served as a full-time lawyer of Fujian Mentors Law Firm, where he was mainly responsible for handling non-performing asset businesses for financial institutions and asset management companies. From October 2001 to April 2006, he served as a full-time lawyer in Fujian Huiyang Law Firm. He also successively served as a legal advisor to a number of banks, enterprises and institutions, and had handled nearly 100 civil and commercial cases. From April 2006 to July 2012, he served as a partner of the Fuzhou branch of Beijing Horizon Lawyers, where he was primarily responsible for the business development and management of the non-litigation department. Since August 2012, he has established Fujian Gong Lue Law Firm, where he held the position of partner and director. Fujian Gong Lue Law Firm is mainly engaged in advising on corporate legal matters, non-contentious legal practice areas such as finance, insurance, investment, mergers and acquisitions, global wealth planning (civil trust) matters, as well as handling other complex litigation and arbitration cases. Mr. Ruan has entered into a letter of appointment with the company for a fixed term of three years starting from 22 March 2019, and will be entitled to a director's fee of HKD 300,000 per annum for his being an independent non-executive Director in the company, which was determined by the Board with reference to his duties and responsibilities as well as the prevailing market conditions. Mr. Ruan will hold office until the next annual general meeting of the company and is subject to retirement by rotation and re-election at the annual general meeting of the company in accordance with the articles of association of the company.