The board of directors of Greater China Holdings Limited announced that Ms. Ma Xiaoling (Ms. Ma) resigned as the chairperson of the Board and chief executive officer of the Company due to her plan to devote more time on pursuing her other business commitments and was re-designated as a non-executive director from an executive director of the Company. Mr. Chen Ningdi (Mr. Chen) was re-designated as an executive director from a non-executive director of the Company and was appointed as the chief executive officer of the Company; and Mr. Shao Yonghua (Mr. Shao) was appointed as the Chairperson, all with effect from 25 August 2015.