The board of directors of Mingfa Group (International) Company Limited announced that with effect from 17 July 2020: Mr. Huang Qingzhu has resigned as an executive Director of the Group; and Mr. Huang Lianchun has resigned as an executive Director, chief operating officer and executive vice president of the Group. The Board also announced that Mr. Zhong Xiaoming has been appointed as an executive Director of the Group with effect from 17 July 2020. After his appointment as an executive Director and chief executive officer of the Group, it is currently contemplated that Mr. Zhong will be appointed to the respective boards of directors of a number of subsidiaries of the Company. Mr. Zhong Xiaoming, aged 53, has more than 20 years of experience in the real estate sector in the People's Republic of China and strong project management capabilities. From 2015 to 2019, Mr. Zhong was the general manager of Zhongye Fujian Real Estate Development Co., Ltd. From 2009 to 2014, Mr. Zhong served as the vice president of the Company and was responsible for the project management operations of the Group. Mr. Zhong qualified as a senior engineer in 2002. Mr. Zhong graduated from China Three Gorges University (previously known as Gezhouba Hydraulic & Electric Engineering College) with a bachelor degree in engineering in 1989.