The board of directors of Wanda Hotel Development Company Limited announced that with effect from 29 March 2018, Mr. He Zhiping has been appointed as an independent non-executive Director, a member of the audit committee and the remuneration committee of the Company. Mr. He Zhiping, aged 54. Since 1987, Mr. He has previously served as the assistant to the general manager of the United Rail Ltd, Shenzhen Branch of China Nonferrous Metals Company, the assistant to the general manager and vice general manager of Hainan Sanya Huaya Enterprise Group Corporation and a director of China Great Wall Securities, LLC. He is currently the chairman of the board of directors and the general manager of China Wall King Holding Co., Ltd, and a non-executive director of AviChina Industry & Technology Company Limited. Mr. He also serves social positions such as the vice president of the Revolutionary Area Development Association of Jiangxi Province, Executive Vice President of Gan General Chamber of Commerce and the Council of Donghua University. Mr. He has entered into a letter of appointment with the Company for a term of three years commencing from 29 March 2018, which can be terminated by three months' advance notice in writing by either party and is subject to the provisions of the bye-laws of the Company and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Mr. He will hold office until the first general meeting of the Company after the appointment and will be eligible for re-election at that meeting and will thereafter be subject to the provisions of retirement by rotation and re-election contained in the bye-laws of the Company at future annual general meetings. Mr. He will be entitled to an annual remuneration fixed at RMB 220,000, which is determined by the Board and the Company's remuneration committee after due consideration with reference to his responsibilities with the Company and the Company's remuneration policies.