Hong Kong International Construction Investment Management Group Co., Limited announced that effective from July 15, 2017, Huang Qijun will be appointed as an executive Director, the Chairman of the Board, the chairman of the Nomination Committee and a member of the Remuneration Committee. He currently serves as a director on the board of directors of HNA Group Co. Ltd. and is the chairman of HNA Holding Group Co.

Ltd. Mr. Zhao Quan will step down as the Chairman of the Board as well as the chairman of the Nomination Committee. Mr. Zhao will remain as an executive Director and a member of the Remuneration Committee and will be re-designated as a Vice Chairman of the Board to serve alongside Mr. Fung Chiu Chak, Victor and Mr. Liu Junchun, the Chief Executive Officer of the company, a member of the Nomination Committee and the alternate to authorised representative of the company. Mr. Zhao, aged 46, joined the Group in December 2016.

Mr. Fung will step down as the Chief Executive Officer as well as the Managing Director of the company. He will continue to serve the Group as an executive Director, a Vice Chairman of the Board as well as a member of the Remuneration Committee and will be appointed as the President of Operations of the Group. His roles and responsibilities will remain unchanged and be primarily responsible for the business development, strategic planning as well as general and project management of the Group.

Mr. Liu will remain as an executive Director and will be re-designated from his role as a Co-Vice Chairman of the Board to a Vice Chairman of the Board to serve alongside Mr. Fung and Mr. Zhao. He is responsible for public relations of the Group. Mr. Mu Xianyi will be appointed as an executive Director, each of Mr. Tang King Shing and Mr. Tang Kit will be appointed as a non-executive Director and Mr. Leung Kai Cheung will be appointed as an independent non-executive Director.

Mr. Mu Xianyi was a director of NH Hotel Group, S.A. from April 2013 to June 2016. Mr. Mu will be responsible for corporate planning and development and the corporate finance and investment policy of the Group. Mr. Tang King Shing has been an independent non-executive director of Tai United Holdings Limited, since his appointment in February 2017.

Mr. Tang Kit was employed by Hong Kong Airlines Limited in October 2013, where he is currently a director. Mr. Leung Kai Cheung has been an independent non-executive director of each of HNA Holding Group Co. Limited and Shougang Concord International Enterprises Company Limited since his appointments in June 2006 and BeijingWest Industries International Limited (formerly known as Norstar Founders Group Limited) since his appointment in January 2014.

Mr. Leung will be appointed as a member of each of the Audit Committee of the Board and the Remuneration Committee. In connection with the restructuring of the Board and to allow various members of the current Board to focus more on the growing needs of the business of the Group, Mr. Chiu Chin Hung has tendered his resignation as an executive Director and an Authorised Representative, Mr. Lau Kin Fai has tendered his resignation as executive Director and an alternate to Authorised Representative and Mr. Fan Ning has tendered his resignation as an executive Director, all with effect from 15 July 2017, so that they can each spend more time on the operational demands of the various business divisions of the Group. After his resignation as an executive Director and an Authorised Representative, Mr. Chiu will be appointed as the President of the Foundation Division of the Group.

Save for no longer acting as an executive Director, Mr. Chiu's roles and responsibilities in the Group will remain unchanged and he will focus on his role as the President of the Foundation Division and be primarily responsible for the business development and management of the Group's foundation division. The Group will continue to require Mr. Chiu's extensive experience in foundation design and construction works to support the growth of the Group's foundation business. After his resignation as an executive Director and an alternate to Authorised Representative, Mr. Lau will be appointed as the President of the Real Estate Development Division of the Group.

Save for no longer acting as an executive Director, Mr. Lau's roles and responsibilities in the Group will remain unchanged and he will focus on his role as the President of the Real Estate Development Division and be primarily responsible for, the business development and management of the Group's property development division. After his resignation as an executive Director, Mr. Fan will continue to serve the Group as the Vice President of Operations of the Group and be responsible for the Real Estate Development Division and the Real Estate Development Business of the Group. Mr. Meng Yongtao has also tendered his resignation as an executive Director with effect from 15 July 2017 in order to devote more time to other business commitments.

Following Mr. Chiu's resignation as Authorised Representative, Mr. Wong Tai Lun Kenneth will be appointed as an Authorised Representative under Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange with effect from 15 July 2017.