The board of directors of Great China Holdings Limited announced that Mr. JIANG Tian has been appointed as an executive Director, the chairman of the Board and the chairman of the nomination committee of the Company with effect from 6 June 2017. Mr. JIANG Tian is the controlling shareholder of the company. He has extensive experiences in real estate investment and hotel management in China.

He is currently the executive director of Shanghai Chongsheng Investment Management Co. Ltd., Hong Kong Hopevision International Limited, Hopevision Group Limited and Shanghai Sky Fortune Boutique Hotel Co. Ltd. The board announced that with effect from 6 June 2017, Ms. GU Ming has resigned as the chief executive of the company due to other business commitments.

Ms. GU will remain as an executive Director. Ms. GU has confirmed that she has no disagreements with the board and there are no other matters relating to her resignation as the Chief Executive that need to be brought to the attention of the shareholders. The board further announced that Mr. LAI Han, an executive Director, has been appointed as the Chief Executive with effect from 6 June 2017.

Mr. LAI Han has over 15 years of experience in accounting, investment, mergers and acquisitions and company secretarial fields. He is currently a secretary to the board of directors of Shanghai Chongsheng and a director of Poppins Properties (Shanghai) Company Limited, the subsidiary of the company. The board also announced that with effect from 6 June 2017, Mr. GONG Biao, an executive Director, has been appointed as a vice-president of the Company.