The board of directors of China Overseas Property Holdings Limited announced that Ms. Wang Qi has resigned as Executive Director, Vice Chairman, Chief Executive Officer and authorized representative of the company with effect from 22 March 2018 due to realignment of work duties. The Board announced that Dr. Yang Ou has been appointed as Executive Director, Chief Executive Officer and authorized representative of the company with effect from 22 March 2018. Dr. Yang was the president of Sichuan District of Country Garden Holdings Company Limited from June 2016 to June 2017.

Dr. Yang rejoined COLI as general manager of customer services department of COLI since June 2017. Dr. Yang has over 16 years of industry experience in property development and management.