Poly Property Group Co., Limited announced the appointment of Mr. Hu Zaixin as Executive Director with effect from 14 March 2024 to fill the casual vacancy as a result of the resignation of Mr. Wang Jian as an executive director. Mr. Hu Zaixin, aged 55, holds a master's degree in Economics from the School of Business of Sun Yat-sen University and a doctorate degree in Media Economics from the Communication University of China. Mr. Hu has extensive work experience in the real estate and property management sectors.

Mr. Hu is a qualified intermediate economist (sales and marketing). Mr. Hu is currently a deputy to the Guangzhou Municipal People's Congress and a vice president of China Property Management Institute. Mr. Hu started working in 1987 and joined a subsidiary of Poly Developments and Holdings Group Co.

Ltd. () ("Poly Developments and Holdings", formerly known as (), the shares of which were listed on the main board of the Shanghai Stock Exchange in July 2006, with stock code: SH600048) in July 1998. During this period, he worked as manager of the Sales Department, business supervisor, head of the planning and research center and head of the marketing center. In September 2002, Mr. Hu was transferred to Poly Developments and Holdings.

From September 2002 to September 2021, Mr. Hu served as deputy manager of the planning and research center, general manager of the marketing center, assistant to the general manager, general manager of the brand management center, marketing director, deputy general manager and deputy secretary of the Party Committee in Poly Developments and Holdings. In October 2021, Mr. Hu was appointed as a director and a member of the audit committee of Poly Developments and Holdings. Mr. Hu was also appointed as a director of Poly Property Services Co.

Ltd. () ("Poly Property", formerly known as Poly Property Development Co. Ltd., the shares of which were listed on the main board of The Stock Exchange of Hong Kong Limited in December 2019, with stock code: 06049) in April 2009. He served as chairman from April 2009 to June 2018 and was re-designated as a non- executive director in May 2019.

Mr. Hu was also a member of the audit committee of Poly Property. Mr. Hu resigned from all positions in Poly Developments and Holdings and Poly Property on 13 March 2024.