Xinyuan Real Estate Co., Ltd. announced the appointment of Mr. Zhongbing Wu as a director to the Board of Directors of the Company (the “Board”), and to serve as a member of the Investment Committee. Mr. Wu served as the Regional Director of Finance Department of Financial Street Holdings from June 2003 to March 2009. He held the position of Deputy General Manager in Wanda Group's Wuhan and Changsha companies from March 2009 to January 2013.

From January 2013 to March 2015, he served as the General Manager of the Finance and Internal Control Management Department at Vanke Group. From March 2015 to December 2022, Mr. Wu held various positions, including Vice President and Executive President, at China Fortune Land Development Co., Ltd. Mr. Wu is one of the first batch of experts in the Expert Pool for Government and Social Capital Cooperation of the National Development and Reform Commission. Mr. Wu obtained his bachelor's and master's degrees from Central University of Finance and Economics in 1998 and 2002 respectively.

In 2012, he earned his Ph.D. in Economics from Huazhong University of Science and Technology. Furthermore, in 2019, he completed the Executive Master of Business Administration (EMBA) program at Tsinghua University PBC School of Finance. Mr. Wu has held post-doctoral positions in Theoretical Economics at Huazhong University of Science and Technology and Applied Economics at Central University of Finance and Economics.

The board believes that Mr. Wu's professional expertise in the field of finance will contribute to the company's further development.