The board of directors of Coastal Greenland Limited announced that Mr. Cai Shaobin has tendered his resignation as an executive Director and a member of the investment committee of the Board with effect from 20 March 2017 due to his decision to devote more time to his personal endeavours. The Board also announced that Dr. Li Ting has been appointed as an executive Director and a member of the Investment Committee with effect from 20 March 2017. Dr. Li worked as the vice president and chief knowledge officer of southern China region of Coastal Realty Investment Limited from 2012 to present. Dr. Li is mainly responsible for the Group's strategic planning, business management systems and innovative business development.