The board of directors of Yuexiu Property Company Limited announced the following changes within the Board with effect from July 31, 2013: Mr. Lu Zhifeng resigned as Chairman of the Board and executive director of the company upon his retirement; Mr. Zhang Zhaoxing, currently an executive director, Vice Chairman and General Manager of the company, was appointed as Chairman of the Board of the company; and Mr. Zhu Chunxiu was appointed as Vice Chairman of the Board and executive director of the company. Mr. Zhang succeeded Mr. Lu as Chairman of the Board. Prior to Mr. Zhu's appointment as the company's vice chairman, Mr. Zhu was the vice chairman and general manager of (Guangzhou International Holding Group Company Limited) as well as the director of (Guangzhou Rural Commercial Bank) (formerly known as (Guangzhou Rural Credit Cooperatives)).