Xinyuan Real Estate Co., Ltd. (Xinyuan or the company) announced that the Board of Directors have approved Mr. Yu "Brian" Chen's resignation as the company's Chief Financial Officer due to personal reasons, effective immediately. Mr. Cheng Li will be appointed as the new Chief Financial Officer, effective immediately. Prior to joining the Company, Mr. Cheng Li served as the General Manager of the Finance and Treasury Department and the General Manager of the Finance Services Center of PowerChina Real Estate Group Ltd. from August 2020 to September 2023.

From May 2016 to August 2020, Mr. Li served as the General Manager of Headquarters Account Management Department of China Fortune Land Development Co., Ltd. From 2009 to 2016, Mr. Li served as the Director of Finance Management Center of Longfor Properties Co. Ltd. From 2005 to 2009, Mr. Li served as the Assistant Manager at KPMG Huazhen LLP. Mr. Li obtained a bachelor's degree in Marketing and Sales from Tong Ji University in July 2005.

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