The board of directors of Sinic Holdings (Group) Company Limited announced that Chen Kai has tendered his resignation as Chief Executive Officer of the Company, with effect from 1 October 2020, to allow him to devote more time for his personal and other commitments. Zhang Yuanlin, an executive Director and Co-chairman of the Company, has been appointed as Chief Executive Officer of the Company with effect from 1 October 2020. Zhang Yuanlin founded the Group in March 2010. Zhang has been a Director since 18 September 2018 and was redesignated as Chairman, an executive Director and Chief Executive Officer on 14 May 2019. Zhang ceased to be Chief Executive Officer and was redesignated to be the Co-chairman on 2 March 2020. Zhang is primarily responsible for the overall business direction and strategic development of the Group. Zhang has also served as a director of Jiangxi Sinic Properties since March 2010. He has over 17 years of experience in the PRC real estate industry. From January 2002 to January 2006, he worked in Jiangxi Province Fifth Construction Group Co. Ltd.