Ground International Development : Announcements and Notices - Change of Executive Director

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廣澤國際發展有限公司

(Incorporated in Bermuda with limited liability)

The board (the "Board") of directors (each a "Director") of Ground International Development Limited (the "Company", together with its subsidiaries, the "Group") hereby announces the following change of executive Director.

Mr. Huang Bingxing ("Mr. Huang") had tendered his resignation as an executive Director and a director of certain subsidiaries of the Group with effect from 29 November 2017 in order to focus on his other business development. Mr. Huang has confirmed that he has no disagreement with the Board and that there is no other matter relating to his resignation that are required to be brought to the attention of the holders of securities of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

Ms. Liu Hongjian ("Ms. Liu") has been appointed as an executive Director with effect from 29 November 2017. Details of Ms. Liu as required under Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") are set out below:-

Ms. Liu Hongjian, aged 44, has solid experience in financing guarantee business and over 20 years' experience in financial management.

Ms. Liu has been the legal representative and general manager of 吉林省灃潤擔保有限公司 (Jilin Province Fengrun Guaranty Company Limited*) (currently a wholly-owned subsidiary of the Company) since 2013, and is primarily responsible for the operation of financing guarantee business and had received industry awards. Ms. Liu was the financial manager and the project general manager of 吉林省廣澤地產有限公司 (Jilin Ground Real Estate Company Limited*)

(currently a wholly-owned subsidiary of the Company) from 2009 to 2012. She was also the financial controller of 吉林省廣澤乳業有限公司 (Jilin Ground Dairy Industry Co., Ltd.*) (currently known as Ground Dairy Industry Co., Ltd. 廣澤乳業有限公司) from 2001 to 2006. Ms. Liu graduated from the Changchun Taxation College (currently known as the Jilin University of Finance and Economics) specialised in professional accounting in 1996. She was

also qualified as an intermediate-level accountant granted by the Ministry of Finance of the People's Republic of China (the "PRC").

Pursuant to bye-law 85(2) of the bye-laws (the "Bye-laws") of the Company, Ms. Liu shall hold office only until the next following general meeting of the Company and shall then be eligible for re-election at that general meeting. According to the service agreement between Ms. Liu and the Company, she has been appointed for a fixed term of three years and is subject to rotation and re-election at the annual general meeting of the Company in accordance with the Bye-laws. Ms. Liu is entitled to receive a yearly basic emoluments of RMB240,000, a performance-based bonus of not more than RMB160,000 and a discretionary bonus. The director's remuneration package of Ms. Liu is determined with reference to her experience, duties, responsibilities, workload and time devoted to the Group and the prevailing market conditions.

As at the date of this announcement, Ms. Liu is beneficially interested in 89,000 ordinary shares of the Company. Save as disclosed above, Ms. Liu does not (i) hold any directorship in other public companies the securities of which are listed on any securities market in Hong Kong or overseas or hold any major appointments and professional qualifications in the past three years;

(ii) hold any other position with the Company or other members of the Group; (iii) have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company; and (iv) have any other interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

Save as disclosed above, there is no other matter regarding the appointment of Ms. Liu that need to be brought to the attention of holders of securities of the Company nor are there any other information that is required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules.

The Board would like to express its gratitude for Mr. Huang's invaluable contribution to the Group during his tenure of office and would like to extend a warm welcome to Ms. Liu in joining the Board.

By order of the Board

Chairperson

Hong Kong, 29 November 2017

As at the date of this announcement, the executive Directors are Ms. Chai Xiu, Ms. Cui Xintong, Mr. Wang Guanghui and Ms. Liu Hongjian; and the independent non-executive Directors are Mr. Chan Yuk Tong, Mr. Mei Jianping and Mr. Xiang Qiang.

* The English names of the PRC entities referred to in this announcement are transliterations from their Chinese names and are for identification purposes only, and should not be regarded as the official English name(s) of such Chinese name(s). If there is any inconsistency, the Chinese name shall prevail.