Xinyuan Property Management Service (Cayman) Ltd. announced that Mr. SHEN Yuan-Ching ("Mr. Shen") has been re-designated from an independent non-executive Director to an executive Director of the Company, has resigned from being a member of the audit committee of the Company, has been re-designated from vice chairman of the Board to chairman of the Board, all with effect from 19 September 2022. Mr. Shen shall remain as a member of the remuneration committee of the Company and the chairman of the nomination committee of the Company. Mr. SHEN Yuan-Ching, aged 57, was appointed as an independent non-executive directoron 13 April 2022 and was appointed as the vice chairman of the Board and the authorized representative of the Company on 29 August 2022.

From May 2020 to September 2022, Mr. Shen served as the chief executive officer of VNET Group Inc. and the executive chairman of Neolink Tech Group Inc., a wholly owned subsidiary of VNET Group. From May 2018 to September 2022, Mr. Shen served as an independent non-executive director of Xinyuan Real Estate Co. Ltd. Mr. Shen also served as an independent director of Kingdee International Software Group Co.

Ltd. from January 2018 to January 2020 and Insigma Technology Co. Ltd. from January 2016 to July 2021. From September 2017 to January 2020, Mr. Shen was the president of JD Cloud, the cloud business unit under JD.com.

Mr. Shen served as a non-executive director of Inspur International Limited from September 2012 to March 2018. Mr. Shen formerly held various senior positions at Microsoft Corporation. Mr. Shen obtained a Master's Degree in Computer Science from the University of California.

Mr. Shen has 5 years of experience in China internet companies and 23 years in multinational companies.