The board of directors of China Merchants Land Limited announced that, with effect from 5 May 2023, Mr. He Qi has resigned as an independent non-executive Director due to other personal career plans. Mr. Yu Zhiliang has also tendered his resignation as a non-executive Director due to change in work arrangements, and will cease to serve as a member of the audit committee of the Company. The Board further announced that Mr. Li Yao has been appointed as a non-executive Director and a member of the Audit Committee.

Mr. LI Yao, aged 36, is currently the Deputy General Manager of the Overseas Development Division of China Merchants Shekou Industrial Zone Holdings Co. Ltd. He joined China Merchants Holdings (International) Company Limited in 2012 and has since served as the Engineer and Assistant Department Manager of the Engineering Department and Administration Department of China Merchants Colombo International Container Terminals Ltd., the Manager of the Administration Department of China Merchants Holdings (International) Company Limited, the Manager of the Overseas Business Department of China Merchants Holdings (International) Company Limited, the Permanent Representative of China Merchants Group Representative Office in Djibouti, the Manager of Overseas Department and International Cooperation Department of China Merchants Group Headquarters, Deputy Director of Executive Office of China Merchants Group Headquarters. Mr. Li graduated from Tianjin University with a bachelor's degree in engineering management and English in July 2009 and later graduated from Tianjin University with a master's degree in management in engineering management in January 2012.

The Board further announces that (i) Mr. Wong King Yuen, an executive Director, has been appointed as the Process Agent; and (ii) Ms. Chen Yan, an executive Director, has been appointed as the Authorised Representative, with effect from 5 May 2023. Mr. IP Man Ki Ryan, aged 33, joined Our Hong Kong Foundation in January 2017 and is now the Foundation's Vice President and Co Head of Research. He worked as an economist at Hong Kong Monetary Authority from May 2016 to December 2016 and a real estate analyst at Jones Lang LaSalle from July 2014 to April 2016.

Mr. Ip participates in various public offices. He is a member of the Hong Kong Government's Land and Development Advisory Committee and Advisory Committee on the Northern Metropolis, Executive Committee member of the China Real Estate Chamber of Commerce Hong Kong and International Chapter, International Advisory Committee member of the Research Institute for Land and Space at the Hong Kong Polytechnic University, and board member of the Hong Kong PropTech Association. Mr. Ip is also an Interview Assessor for Chartered qualification of the Royal Institution of Chartered Surveyors, a member of the Housing Committee of the Urban Land Institute and a member of the Land and Housing Supply Working Group of Hong Kong General Chamber of Commerce.

He obtained a bachelor's degree in economics from The Chinese University of Hong Kong in July 2012 and a Master of Science degree in Economics from the London School of Economics and Political Science in July 2013. Mr. Ip is a Chartered Surveyor (MRICS) and a Chartered Financial Analyst (CFA).