The board of directors of China Merchants Land Limited announced that, due to reaching the statutory retirement age in the PRC, Mr. Xu Yongjun (Mr. Xu) has resigned as a non-executive director and the chairman of the board and will cease to be the chairman of the nomination committee of the company (the nomination committee), with effect from 25 September 2023. The board further announced that Mr. Jiang Tiefeng (Mr. Jiang) has been appointed as a non-executive director, the chairman of the board and the chairman of the nomination committee. Mr. JIANG Tiefeng, aged 50, is a senior engineer.

He is currently the chairman of the board of directors and secretary of the Party Committee of China Merchants Shekou Industrial Zone Holdings Co. Ltd. (CMSK). He has been a director of CMSK since October 2019 and the general manager of CMSK from October 2019 to September 2023.

He has been the assistant general manager, deputy general manager and general manager of China Merchants Property Development Co. Ltd. Nanjing Company; the general manager of CMSK's Shanghai Company, the executive deputy general manager of the East China region, the general manager of the East China region and the general manager of the Jiangnan region; and the deputy general manager of CMSK. Mr. Jiang graduated from Huazhong University of Science and Technology with a Bachelor's Degree in Civil Engineering, majoring in Architectural Engineering, and later studied at Tsinghua University with a Master's Degree in Engineering.