Greentown China Holdings Limited announced that Mr. Shou Bainian entered into an agreement dated 26 January 2018 with third parties to sell his interests in 174,549,783 ordinary shares of the company and tendered his resignation, as part of his retirement plan, as an executive Director and a member of each of the remuneration committee and nomination committee of the Board with effect from the completion of the Sale. The board of directors of the company announced it was notified by Mr. Shou that completion of the Sale took place on 6 April 2018. Accordingly, the Resignation took effect upon completion of the Sale on 6 April 2018. The Board announced that with effect from 6 April 2018, Mr. Li Jun has been appointed as an executive Director; Mr. Liu Wensheng, an executive Director and co-chairman of the company, has been appointed as a member of the remuneration committee of the Board; and Mr. Cao Zhounan, an executive Director, has been appointed as a member of the nomination committee of the Board. Mr. Li Jun was appointed as an executive director of the company on 6 April 2018. Mr. Li has rich experience in operation and management. He joined the Group in November 2008 and served as the general manager of the Company's wholly-owned subsidiary Dalian Greentown Real Estate Development Co. Ltd. and the North-eastern Region and Beijing Region general manager of the Company's wholly-owned subsidiary Greentown Real Estate Group Co. Ltd. Since February 2017, he has served as a deputy general manager of Greentown Real Estate and the Beijing Region general manager of Greentown Real Estate.