The board of directors of Hopson Development Holdings Ltd. announced that with effect from March 28, 2013, Mr. Xiang Bin has resigned as an Executive Director and the Deputy Chairman of the company due to Mr. Xiang's desire to devote more time to his personal endeavors. Mr. Xiang will remain as the Managing Director of the Shanghai Region of the Group and will continue to hold the offices of a director of various subsidiaries of the Company up to the end of 2013. With effect from March 28, 2013, Mr. Zheng Shao Hui has been appointed as an Executive Director of the Company.

Mr. Zheng, aged 48, is an engineer and the Executive Vice President of the Group since 2012. Prior to joining the Group, Mr. Zheng had been the project general manager of Shantou Zhenhua Residential Construction Co. Ltd. from 1988 to 1998.

Mr. Zheng was the general manager of Guangzhou regional office of Guangdong Hanjiang Construction Installation Engineering Co. Ltd. from 1999 to 2004 and the general manager of Beijing regional office of the same company from 2005 to 2011. Mr. Zheng joined the Group in 2011 as the director of the Project Management Department, and he has also been the managing director of Guangzhou Hechuang Construction Company Limited and Guangdong Zhujiang Construction Decoration Engineering Co.

Ltd. He has over twenty years' experience in real estate development and management.