The board of directors of Prosper Construction Holdings Limited announced that Mr. Liu Luqiang ("Mr. Liu") has tendered his resignation as (i) executive Director, (ii) chairman of the Board and (iii) chairman of the nomination committee of the Board ("Nomination Committee") with effect from 29 December 2020 in order to allocate more time to his other work arrangement. The Board further announces that Mr. Yang Honghai ("Mr. Yang") has been appointed as an executive Director with effect from 29 December 2020. Mr. Yang is currently the officer-in-charge of the strategy development centre of Qingdao West Coast Development (Group) Limited (the ultimate controlling shareholder of the Company), the chief supervisor of Qingdao West Coast Holding Development Limited (an intermediate controlling shareholder of the Company), and also a director or supervisor of more than ten subsidiaries of Qingdao West Coast Development (Group) Limited, including Qingdao Xifa Construction Development (Group) Limited ingdao Xifa Tourism Investment (Group) Limited and Qingdao West Coast Finance Development Co. Ltd. extra. Mr. Wang Xuejun, a non-executive Director, has been appointed as chairman of the Board and chairman of the Nomination Committee succeeding Mr. Liu with effect from 29 December 2020.