The board of directors of Shanghai Zendai Property Limited announced that, with effect from 29 June 2018, Mr. Wang Quan has resigned as an executive Director due to his job reallocation within China Orient Asset Management Co. Ltd. group. The Board announced that, with effect from 29 June 2018, Mr. Qin Renzhong has been appointed as an executive Director. Mr. Qin joined China Orient Asset Management (International) Holding Limited in April 2018, and currently serves as the chief risk officer of the company.