The board of directors of Great China Holdings Limited announced that Mr. LAI Han has tendered his resignation as an executive Director, the chief executive of the company and a member of the remuneration committee of the company with effect from 31 August 2018 due to his intention to concentrate on other business commitments. The Board further announced that Mr. JIANG Tian an executive Director, the chairman of the Board and the nomination committee of the company as well as the controlling Shareholder, has been appointed as the Chief Executive; Mr. GONG Biao an executive Director and the vice president of the company, has been appointed as a member of the Remuneration Committee; and Ms. HOU Yingxuan, an executive Director and the vice president of the Company, has been appointed as an authorised representative of the company to fill the vacancies arising from the resignation of Mr. LAI with effect from 31 August 2018. Mr. JIANG is an executive Director, the Chairman and the chairman of the Nomination Committee as well as the controlling Shareholder.

He has extensive experiences in real estate investment and hotel management in the PRC. He is currently the director of Shanghai Chongsheng Investment Management Co. Ltd. Mr. JIANG was a director of Xinjiang Hejin Holding Investment Co.

Ltd. from December 2008 to June 2009.