The Board of directors of China Fortune Investments (Holding) Limited (the "Company") (together with its subsidiaries the " Group ") announced the Board has resolved to suspend all administrative and executive duties of Mr. Pan Xiaodong ("Mr. Pan") as an executive director of the Company until after the results of the upcoming extraordinary general meeting to be convened in relation to the proposed removal of Mr. Pan and Mr. Liu Yunming as directors of the Company as mentioned in the Company announcement dated 1 April 2019. The reasons for the Board's decision being that Mr. Pan has engaged in conducts which, in the opinion of the Board, are unbefitting of a director of the Company including but not limited to obstructing the normal business of the Company at its principal office in Hong Kong, obstructing the holding of a Board meeting and abusing his power in purported dismissal of Company's employees without proper cause and authority and due process.