The board of directors of Culture Landmark Investment Limited announced that with effect from 8 December 2016, Mr. Chen Weiwu, Mr. Chen Gengxian, Mr. Chen Songbin, and Mr. Zhou Houjie have been appointed as executive directors. Mr. WW Chen is a business entrepreneur and has experience in the real estate industry. Mr. WW Chen is the chairman and ultimate beneficial owner of (Beijing Tian'an Innovation Technology and Estates Limited. Mr. GX Chen served as an executive director and the vice-chairman of Kaisa Group Holdings Limited. Mr. SB Chen is currently a director of BTIT. Mr. Zhou is currently the vice president of BTIT. The board further announced that with effect from 8 December 2016, Mr. Chen Youchun and Mr. Chan Chein Kwong William have been appointed as independent non-executive directors. Mr. YC Chen has extensive experience in corporate finance, initial public offerings and mergers and acquisitions. Mr. YC Chen is an independent non-executive director of China Soft Power Technology Holdings Limited. Mr. William Chan joined Deloitte Touche Tohmatsu in August 1991, where he left his position as a senior accountant in August 1995. From November 1996 to September 2000, he was employed by Hongkong Land Group Limited as an accounting manager. Between September 2000 to April 2001, Mr. William Chan served Fosson Limited as the chief financial officer. He joined ABN AMRO Bank N.V. in May 2001, where he left his position as a director in global clients management and support department of global clients in June 2007. Mr. William Chan is currently the chief operating officer of CITIC International Assets Management Limited and the chief executive officer of CITIC Carbon Assets Management Limited, one of the group companies of CITIC International Assets Management Limited. Mr. William Chan is also currently the responsible officer of CIAM Capital Management Limited. With effect from 8 December 2016 Mr. Cheng Yang has stepped down as chairman of the board and Mr. WW Chen has been appointed as the chairman of the board. With effect from 8 December 2016 Mr. Tong Jingguo, an independent non-executive director, has stepped down as the chairman of each of the audit committee of the board and the remuneration committee and ceased to be a member of each of the audit committee, the remuneration committee and the nomination committee of the board. Mr. YC Chen has been appointed as the chairman of each of the audit committee and the remuneration committee and a member of the nomination committee; Mr. Yang Rusheng, an independent non-executive director, has ceased to be a member of each of the remuneration committee and the nomination committee, but remained as a member of the audit committee; Mr. Cheng Yang has stepped down as the chairman of the nomination committee, and ceased to be a member, of the nomination committee; Mr. William Chan has been appointed as a member of each of the audit committee, the nomination committee and the remuneration committee; Mr. Zhou has been appointed as a member of the remuneration committee; and Mr. WW Chen has been appointed as the chairman of the nomination committee.