The board of directors of Joy City Property Limited announced that Ms. Song Bingxin (Ms. Song) and Mr. Guo Fengrui (Mr. Guo) has been appointed as the deputy general manager of the Company with effect from 26 April 2019. Ms. Song from December 2016 to April 2019, she served as the deputy general manager at Grand Joy Holdings Group Co. Mr. Guo has served as the general manager of the operation management department from February 2015 and acted as the general manager assistant from April 2019 at Grand Joy Holdings.

The Board announced that, due to work re-allocation, Ms. Xu Hanping (Ms. Xu) ceased to be the chief financial officer of the Company (the CFO) with effect from 26 April 2019. The Board also announced that Mr. Zhang Jianguo (Mr. Zhang) has been appointed as the CFO with effect from 26 April 2019. Mr. Zhang from December 2016 to April 2019, he served as the chief financial officer at Grand Joy Holdings.