The board of directors of ShiFang Holding Limited announced that Mr. Zhuo Ze Yuan has resigned as an independent non-executive Director with effect from 9 June 2014 in order to pursue his full-time commitment. Mr. Zhuo will also cease to be a member of the audit committee, and the chairman of the nomination committee of the company as from 9 June 2014. Mr. Cai Jian Quan will replace Mr. Zhuo as a member of the Audit Committee and Mr. Cai Jian Quan will replace Mr. Zhuo as the chairman of the Nomination Committee as from 9 June 2014.