DaFa Properties Group Limited announced that Mr. Ge Yiyang has tendered his resignation as an executive Director and the chairman of the Board with effect from 22 March 2024 due to his personal health issues. Mr. Ge has been appointed as the strategic development consultant of the Group with immediate effect and will continue to provide guidance to the Group in terms of strategic development and operation excellence. The Board further announced that Mr. Fok Ho Yin Thomas ("Mr. Fok") has tendered his resignation as an independent non-executive Director with effect from 22 March 2024 due to his other business commitments.

The Board announced that Mr. Gao Shan has been appointed as an executive Director and the Chairman with effect from 22 March 2024. Mr. Gao Shan, aged 34, joined the Group in June 2020 and is primarily responsible for formulating corporate strategic planning, business development as well as operations and administrative management of the Group. Mr. Gao currently holds various directorship and is also the legal representative of several subsidiaries of the Company.

Mr. Gao possessed 4 years' experience working in the field of real estate industry in China. Before joining the Group, Mr. Gao has dedicated his time on his own personal business development and has held administrative management positions in Kunshan Rishun Packaging Materials Co. Ltd. and Shanghai Zhongzheng Wei Security Services Group Co.

Ltd., primarily responsible for the overall strategic planning, streamlining the operations and the functions of business development of the respective companies. Following the resignation as an executive Director and the Chairman, Mr. Ge has also ceased to be the chairman and a member of the nomination committee (the "Nomination Committee") of the Company with effect from 22 March 2024. Following the resignation as an independent non-executive Director, Mr. Fok has also ceased to be the chairman and a member of the audit committee (the "Audit Committee") of the Company and a member of each of the Nomination Committee and the Remuneration Committee with effect from 22 March 2024.

Mr. Gao has been appointed as the chairman of the Nomination Committee with effect from 22 March 2024.