Country Garden Holdings Company Limited announced Mr. YEUNG Kwok Keung ("Mr. YEUNG''), the Chairman and an executive Director of the Company, has tendered resignation from his positions as the Chairman and an executive Director of the Company due to age reason with effect from 1 March 2023. Mr. YEUNG will continue to participate in the corporate operations of the Group as a Special Advisor after his resignation. Mr. YEUNG has also resigned as the chairman of Nomination Committee, Corporate Governance Committee, Environmental, Social and Governance Committee and Executive Committee as well as a member of Remuneration Committee of the Company with effect from 1 March 2023.

Mr. YEUNG has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention of the holders of securities of the Company or The Stock Exchange of Hong Kong Limited. The Board announces that Ms. YANG Huiyan, the Co-Chairman of the Company, has succeeded the position of the Chairman of the Company, and has been appointed as the chairman of Nomination Committee, Corporate Governance Committee, Environmental, Social and Governance Committee and Executive Committee as well as a member of Remuneration Committee with effect from 1 March 2023, and will remain as an executive Director of the Company. Ms. YANG has been re-designated from a Vice Chairman to a Co-Chairman of the Company since 2018 and jointly managed the day-to-day work of the Group with Mr. YEUNG, and has been responsible for the Group's strategic planning and has years of experience specialising in business and management.

This succession reflected Mr. YEUNG's full trust and recognition of Ms. YANG, and the Company will achieve better development under the leadership of the Board and management. Ms. YANG, aged 41, was appointed as an executive Director in December 2006 and a Vice Chairman in March 2012 and was re-designated from a Vice Chairman to a Co-Chairman in December 2018. Ms. YANG was also previously a member of the Corporate Governance Committee, the Environmental, Social and Governance Committee, the Executive Committee and the Finance Committee and a director of various members of the Group.

Ms. YANG graduated from Ohio State University with a bachelor degree in marketing and logistics and she also obtained an EMBA degree from Tsinghua University in 2019. Ms. YANG joined the Group in 2005 and has successively held key management positions in critical business departments such as investment planning center, procurement department, human resource management center and digital management center. Ms. YANG has served as a Co-Chairman of the Company since 2018 and jointly managed the day-to-day work of the Group with Mr. YEUNG, and has been responsible for the Group's strategic investments and new business exploration based on the existing business, contributing to the Company's sustainable development.

Ms. YANG is a director of Concrete Win Limited, the substantial shareholder of the Company, which has an interest in the shares and underlying shares in the Company which falls to be disclosed to the Company under Divisions 2 and 3 of Part XV of the Securities and Futures Ordinance. Ms. YANG was appointed as the chairman and a non-executive director of Country Garden Services Holdings Company Limited, a company whose shares are listed on the Stock Exchange, in March 2018. Ms. YANG was awarded ``China Charity Award Special Contribution Award'' in 2008, ``China Poverty Alleviation Award Contribution Award'' in 2019 and ``The 11th China Charity Award Individual Donor Award'' in 2021.

Ms. YANG is the daughter of Mr. YEUNG; the sister of Ms. YANG Ziying, an executive Director; the wife of Mr. CHEN Chong, a non-executive Director; and the cousin of Mr. YANG Zhicheng, a senior management of the Company. The Board also announces that Dr. CHENG Guangyu, an executive Director, has been appointed as a member of Corporate Governance Committee, Environmental, Social and Governance Committee and Executive Committee with effect from 1 March 2023.