The board of directors of Shanghai Zendai Property Limited announced that, with effect from 23 April 2020: Mr. Gong Ping has resigned as a non-executive Director of the Company due to internal management and work needs of the Fosun Group; and Ms. Jiang Zhengyan has resigned as a non-executive Director of the Company due to her resignation from the Fosun Group. The Board announced that, with effect from 23 April 2020: Mr. Ma Yun (Harrison) ("Mr. Ma") has been appointed as a non-executive Director of the Company; and Mr. Wu Junao (Alfred) ("Mr. Wu") has been appointed as a non-executive Director of the Company. Mr. Ma joined Fosun Group in April 2018, and currently serves as the senior vice president of Fosun Hive, and he is responsible for the investment management in the Greater China region. Mr. Wu Junao is currently studying in the EMBA program of China Europe International Business School.