The board of directors of Tianjin Development Holdings Limited announced that Dr. Li Xiaoguang has resigned as Executive Director and ceased to be an authorised representative of the Company as required under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited with effect from 29 September 2023 due to his other business engagements. The Board announced that Dr. Zhai Xinxiang has been appointed as Executive Director of the Company as well as authorised representative of the Company as required under Rule 3.05 of the Listing Rules with effect from 29 September 2023. Dr. ZHAI Xinxiang, aged 56, a senior engineer, graduated from Tianjin Institute of Light Industry major in food engineering in 1989, studied in graduate school of corporate management from Graduate School of Chinese Academy of Social Sciences from 1996 to 1998, and studied in Tianjin University major in technology economic and management from 2002 to 2005, and obtained a Doctoral Degree in Management in 2005.

Prior to joining of the Company, he has been in various roles including Tianjin Great Wall Food Company, successively served as executive committee member of Communist Youth League of Tianjin, vice-chairman and chief secretary of Tianjin Youth Federation, deputy general manager of TEDA Microelectronics Industrial Zone Company, chairman of Tianjin Binhai TEDA Hotel Development Co. Ltd., chairman of Tianjin TEDA International Hotel Group Co. Ltd., director of Tianjin TEDA Investment Holding Co.

Ltd. and the president of Tianjin Tourism Association. Dr. Zhai is currently the deputy general manager of Tianjin TEDA Industrial Group Co. Ltd. and Tsinlien Group Company Limited, both being controlling shareholders of the Company.

He has in-depth and extensive experience in economics, corporate management and public relations.