The board of directors of Ganglong China Property Group Limited announces that Mr. Guo Shaomu has tendered his resignation as an independent
non-executive Director, and ceased to act as the chairman of the remuneration committee of the Board, and a member of each of the audit committee
of the Board and the nomination committee of the Board with effect from 1 December 2023 in order to devote more time to his other personal commitments. The Board announced that Mr. Wong Tung Yuen has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee, and a member of each of the Audit Committee and Nomination Committee with effect from 1 December 2023. Mr. Wong, aged 32, has over 7 years of experience in capital markets advisory at various investment banks, specialising in initial public offerings and capital fund raising for companies in Hong Kong. He is a managing director of ZMF Asset Management Limited since September 2023 and had been previously working in several corporate finance advisory companies. Mr. Wong obtained a bachelor degree in accounting and finance from Lancaster University in the United Kingdom in 2013 and a master degree in management from University College London in the United Kingdom in 2015. Mr. Wong has entered into a letter of appointment with the Company for an initial term of 3 years commencing from 1 December 2023, subject to retirement by rotation and re- election at the general meeting of the Company in accordance with the articles of association of the Company, and is entitled to a remuneration of HKD 120,000 per annum, which is determined with reference to various factors including his skills and knowledge, his duties and responsibilities with the Company and the prevailing market remuneration for his position.