Applied Development Holdings Limited announced that Mr. Wang Bo has resigned as the Chairman of the Board and Non-executive Director. The board also announced that Mr. Yao Wei Rong has been appointed as the Chairman of the Board and an Executive Director and Mr. Guo Shun Gen has been appointed as a Non-executive Director. Mr. Wang Bo has ceased to be a member of the Remuneration Committee and Mr. Yao Wei Rong has been appointed as a member of the Remuneration Committee; and Mr. Wang Bo has ceased to be the Chairman and a member of the Nomination Committee and Mr. Yao Wei Rong has been appointed as the Chairman and a member of the Nomination Committee to replace Mr. Wang Bo.