Reference is made to the announcements of Yida China Holdings Limited dated 20 February 2020 and 23 February 2020 in relation to the detention by the Public Security Bureau of the People' Republic of China of Mr. Chen Donghui, an executive director of the Company, for suspected embezzlement in accordance with the laws of the PRC. Despite the continuous effort exerted by the board of directors and management of the company, up till the date of this announcement, the Company still has not been able to contact Mr. Chen and has yet to obtain any further information in relation to the Detention. Taking into account of the uncertainty which might be brought to the Group by Mr. Chen's Detention and in order to alleviate any concerns that the management, the shareholders or the potential investors of the company may have as regards to the discharge of duty of Mr. Chen, after careful discussions of the Board, the Board has resolved to suspend all administrative and executive duties and powers of Mr. Chen in the company as an executive director with immediate effect until further notice (the "Suspension"). Taking into consideration of the current status of the Detention, the Board considers that the Suspension is in the best interest of the company and its shareholders as a whole. The Board further considers that the Suspension would not affect the daily operation of the Group in any material respects and the current operation of the Group is normal and stable.