The board of directors of Renhe Commercial Holdings Co Ltd. announced that Mr. Ho Gilbert Chi Hang has resigned as a non-executive director of the company with effect from February 28, 2012 due to his other business commitments. Mr. Ho has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company. The board accepted his resignation at the conclusion of the meeting of the board held on February 28, 2012. The board announced that Mr. Zhou Jun and Mr. Jin Tao have been appointed as executive directors of the company with effect from April 1, 2012. Mr. Zhou Jun, aged 42, is primarily responsible for the management of the operations of the company and its subsidiaries. Mr. Zhou joined the group in 2010 as the vice president and is responsible for the management of the operations of shopping centres in East China. Mr. Zhou has over 15 years of experience in the management and marketing of retail businesses. Prior to joining the Group, Mr. Zhou held various positions including general manager and president of a number of large-scaled shopping centres in China from 1997 to 2010, and was responsible for the overall development, business solicitation and management of operations of shopping centres. Mr. Zhou graduated from Luxun Academy of Fine Arts majoring in decoration, and completed an advanced program organized by Shenzhen Graduate School of Tsinghua University for senior management in 2007.