The board of the directors of Tianjin Development Holdings Limited announced that Mr. Bai Zhisheng has resigned as an executive director of the Company, with effect from January 30, 2014, due to his other work engagements. The Board announced that Mr. Hao Feifei has been appointed as an executive director of the company with effect from January 30, 2014. Mr. Hao Feifei, aged 56, senior engineer.

He is the present chairman, general manager and executive director of Dynasty Fine Wines Group Limited.