Guangzhou R&F Properties Co., Ltd. Announced that Lai Ming, Joseph will not offer himself for re-election at the forthcoming annual general meeting of the company to be held on May 19, 2017 due to retirement and will retire as an independent non-executive director of the company with effect from the conclusion of the AGM. He will also cease to be a member and the chairman of the audit committee of the company and a member of the nomination committee of the company upon his retirement. The board proposes to appoint Mr. Wong Chun Bong ("Mr. Wong") as an independent non- executive director of the company with effect from the conclusion of the AGM. The appointment is subject to the approval by the shareholders at the AGM. The Board also proposes to appoint Mr. Wong as a member and the chairman of the audit committee and a member of the nomination committee upon his approval as an independent non-executive director at the AGM. Mr. Wong is an independent non-executive director of China Goldjoy Group Limited.