The Board of Directors of the Shanghai Industrial Urban Development Group Limited announced that Mr. Zeng Ming has been appointed as the chairman of the Board, an executive Director, an authorized representative as required under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the chairman of the nomination committee of the Company with effect from the conclusion of the AGM held on May 23, 2018. Mr. Zeng is a director of Shanghai Industrial Investment (Holdings) Co. Ltd. and the chairman of Shanghai Industrial Development Co. Ltd. The Board is also announced that Mr. Zhou Xiong has been appointed as the vice chairman of the Board (the ‘Vice Chairman’), a president, an executive Director and a member of the investment appraisal committee of the company with effect from the conclusion of the AGM held on 23 May 2018. Mr. Zhou is currently an assistant president of Shanghai Industrial Investment (Holdings) Co. Ltd. Each of Mr. Zeng and Mr. Zhou shall hold office as an executive Director until the next general meeting of the Company after their appointments having become effective, at which ordinary resolutions will be proposed to seek shareholders' approval to the proposed re-elections of each of them as an executive Director.