Maoye International Holdings Limited announced that Shenyang Commercial City Co. Ltd., which is 29.22% owned by Zhongzhao Investment Management convened the extraordinary general meeting on 14 March 2014 to consider and approve resolutions to elect new directors. Zhong Pengyi, Zhang Daji, Wang Bin, Dong Xiuqin and Qin Guisen, who were nominated by Zhongzhao Investment Management were successfully elected as directors of Commercial City, among which Dong Xiuqin and Qinguisen are independent directors.